Nomad Foods(NOMD) ZACKS·2024-09-19 13:50Core Viewpoint - The article emphasizes the importance of identifying sustainable trends in short-term investing, highlighting that while price momentum can be profitable, it requires strong fundamentals to maintain that momentum. Group 1: Price Movement and Trends - The direction of a stock's price can reverse quickly, leading to potential short-term capital losses for investors [2] - A predefined screening strategy, "Recent Price Strength," helps identify stocks with sufficient fundamental strength to sustain their upward trends [3] - Nomad Foods (NOMD) has shown a solid price increase of 18.5% over 12 weeks, indicating investor confidence in its potential upside [4] - NOMD has also increased by 7.2% over the past four weeks, suggesting that the upward trend is still intact [5] - Currently, NOMD is trading at 93.7% of its 52-week high-low range, indicating a potential breakout [5] Group 2: Fundamental Strength - NOMD holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [6] - The Zacks Rank system has a strong track record, with Zacks Rank 1 stocks averaging a +25% annual return since 1988 [7] - NOMD has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [7] Group 3: Investment Opportunities - In addition to NOMD, there are other stocks that meet the criteria of the "Recent Price Strength" screen, suggesting further investment opportunities [8] - The article encourages investors to explore over 45 Zacks Premium Screens tailored to different investing styles for potential stock picks [8]