Look beyond the Tesla share price; here are other strong performers
This long-running bull market has provided plenty of strong performers for investors to examine, some of which are highlighted below.
The recent surge of interest in Tesla and finding other ‘hot’ stocks has been replaced by a dramatic bout of risk-off sentiment. But it is at times like this that investors will a positive long-term view on the market will want to be looking at recent strong performers in a bid to snap up some bargains.
Below we look at some recent strong performers in the UK and US, which may be an alternative to chasing Tesla and have suffered a pullback in the recent market volatility.
Advanced Micro Devices (AMD)
AMD has the kind of trend that should excite trend followers. Higher highs and higher lows, with steadily rising moving averages, and with regular pullbacks to provide entry points for new longs or to add to existing positions. The stock has dropped sharply in February, but seems set for further gains over the longer term.
JD Sports
UK retailers might not immediately spring to mind when one thinks of a strong performer, but JD Sports fits the bill nicely. 2019 saw a strong recovery in the shares, and even the recent weakness has not really dented the rally.
London Stock Exchange (LSE)
Another strong performer in the UK has been the LSE, which has rallied sharply over the past year and a half. A spate of acquisitions in the space has driven investor enthusiasm, and the latest deal to buy Refinitiv gives LSE the chance to build a business to rival Bloomberg.
Apple
Going long Apple might not be the most original idea, but unlike Tesla this company has a track record. The February pullback saw weeks of gains wiped off the stock price, but this is the first real volatility in the price since August. In bull markets, it makes sense to buy the strongest performers, and Apple is certainly in that category.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
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