Sumitomo (SSUMY) Is a Great Choice for 'Trend' Investors, Here's Why

Core Insights - The article emphasizes the importance of confirming the sustainability of a trend for profitable short-term investing, highlighting that trends can reverse unexpectedly [1][2]. Group 1: Trend Analysis - A predefined "Recent Price Strength" screen is useful for identifying stocks on an uptrend supported by strong fundamentals, particularly those trading near their 52-week high [3]. - Sumitomo Corp. (SSUMY) has shown a solid price increase of 7.4% over the past 12 weeks, indicating investor confidence in its potential upside [4]. - SSUMY has maintained a price increase of 0.8% over the last four weeks, suggesting that the upward trend is still intact [5]. Group 2: Fundamental Strength - SSUMY 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 3: Investment Opportunities - In addition to SSUMY, there are other stocks that meet the criteria of the "Recent Price Strength" screen, suggesting further investment opportunities [8]. - The article encourages exploring over 45 Zacks Premium Screens tailored to different investing styles for identifying potential winning stocks [8].