What Makes Millicom International Cellular SA (TIGO) a Strong Momentum Stock: Buy Now?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1] Company Overview: Millicom International Cellular SA (TIGO) - TIGO currently holds a Momentum Style Score of A, indicating strong momentum characteristics [3] - The company has a Zacks Rank of 1 (Strong Buy), suggesting a favorable outlook based on historical performance metrics [4] Performance Metrics - TIGO shares have increased by 6% over the past week, outperforming the Zacks Wireless Non-US industry, which rose by 1.36% [6] - Over the past month, TIGO's price change is 12.68%, significantly higher than the industry's 2.3% [6] - In the last quarter, TIGO shares rose by 12.42%, and over the past year, they have surged by 105.25%, compared to the S&P 500's increases of 3.89% and 13.58%, respectively [7] Trading Volume - TIGO's average 20-day trading volume is 899,439 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, one earnings estimate for TIGO has increased, while none have decreased, raising the consensus estimate from $2.68 to $7.35 [10] - For the next fiscal year, two estimates have moved upwards with no downward revisions, indicating positive earnings momentum [10] Conclusion - Given the strong performance metrics and positive earnings outlook, TIGO is positioned as a 1 (Strong Buy) stock with a Momentum Score of A, making it a compelling investment opportunity [12]