What Makes ING Groep (ING) 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: ING Groep - ING Groep currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Price Performance - Over the past week, ING shares have increased by 3.65%, outperforming the Zacks Banks - Foreign industry, which rose by 1.32% [5] - In a longer timeframe, ING's shares have gained 8.41% over the past month, compared to the industry's 6.22% [5] - Over the last quarter, ING shares increased by 7.51%, and over the past year, they have surged by 76.16%, while the S&P 500 only moved 3.31% and 13.94% respectively [6] Trading Volume - The average 20-day trading volume for ING is 1,792,587 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, one earnings estimate for ING has increased, raising the consensus estimate from $2.33 to $2.36 [9] - For the next fiscal year, one estimate has also moved upwards, with no downward revisions during the same period [9] Conclusion - Considering the positive price movements and earnings outlook, ING Groep is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [11]