Here's Why Momentum in McEwen (MUX) Should Keep going

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. Group 1: Stock Price Movement - The direction of a stock's price can reverse quickly, leading to potential short-term capital losses for investors [2] - A predefined "Recent Price Strength" screen can help identify stocks that are on an uptrend, supported by strong fundamentals and trading near their 52-week high [3] Group 2: McEwen Mining (MUX) Analysis - McEwen Mining (MUX) has shown a solid price increase of 52.9% over the past 12 weeks, indicating investor confidence in its potential upside [4] - MUX has also experienced an 18.3% price increase over the last four weeks, suggesting that the upward trend is still intact [5] - Currently, MUX is trading at 94.5% of its 52-week high-low range, indicating a potential breakout [5] Group 3: Fundamental Strength - MUX 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 price performance [7] - The Zacks Rank system has a strong historical performance, with Rank 1 stocks averaging a +25% annual return since 1988 [7] Group 4: Investment Strategy - The article suggests that MUX may continue its price trend, and encourages investors to explore other stocks that meet the "Recent Price Strength" criteria [8] - It highlights the importance of backtesting stock-picking strategies to ensure past profitability, which can be facilitated by tools like the Zacks Research Wizard [9]