Miller Industries(MLR) ZACKS· ZACKS·2024-12-03 14:50Core Viewpoint - The sustainability of a trend is crucial for successful short-term investing, and confirming fundamental factors is essential to maintain momentum in stocks [1][2]. Group 1: Trend Analysis - Timing entries into a trend significantly impacts investment success, as trends can reverse unexpectedly, leading to potential losses [1][2]. - A predefined screening strategy, "Recent Price Strength," helps identify stocks with strong fundamentals that can sustain their upward momentum [3]. Group 2: Stock Example - Miller Industries (MLR) - Miller Industries has shown a solid price increase of 29.6% over the past 12 weeks, indicating strong investor interest [4]. - The stock has also increased by 10.8% in the last four weeks, suggesting that the upward trend is still intact [5]. - Currently, MLR is trading at 90.1% of its 52-week high-low range, indicating a potential breakout [6]. Group 3: Fundamental Strength - MLR 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 stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term performance [7]. Group 4: Additional Insights - Besides MLR, there are other stocks that meet the criteria of the "Recent Price Strength" screen, which can be considered for investment [8]. - The effectiveness of stock-picking strategies can be backtested using tools like the Zacks Research Wizard, which includes successful strategies [9].