Recent Price Trend in Nomad Foods (NOMD) is Your Friend, Here's Why

Core 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 [1][2]. Group 1: Stock Performance - Nomad Foods (NOMD) has shown a solid price increase of 13.9% over the past 12 weeks, indicating investor confidence in its potential upside [4]. - The stock has also increased by 1.7% over the last four weeks, suggesting that the upward trend is still intact [5]. - Currently, NOMD is trading at 84.8% of its 52-week high-low range, indicating a potential breakout opportunity [5]. Group 2: Fundamental Strength - NOMD holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% 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 price performance [7]. - Historically, Zacks Rank 1 stocks have generated an average annual return of +25% since 1988, showcasing the effectiveness of this ranking system [7]. Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for identifying stocks like NOMD that have the fundamental strength to maintain their recent uptrend [3]. - In addition to NOMD, there are several other stocks that meet the criteria of the "Recent Price Strength" screen, providing additional investment opportunities [8].