Why Trend Investors Should Consider Miller Industries (MLR)

For those intrigued by trend investing, Miller Industries (MLR) stands out as a compelling option. When it comes to short-term trading, following the trend can be beneficial. However, successful investing hinges on correctly timing the entry into these trends. This is where confirming the sustainability of a trend becomes crucial.

Often, trends may reverse before an investor exits, potentially leading to short-term capital losses. To ensure a profitable trade, it's vital to verify elements such as solid fundamentals and favorable earnings estimate revisions that can help sustain a stock's momentum.

Using a specialized screening method, we apply our "Recent Price Strength" filter, which identifies stocks with fundamental strength capable of maintaining their upward trajectory. This screen highlights stocks trading within the upper segment of their 52-week high-low range, which typically signals bullish sentiment.

Miller Industries

Miller Industries (MLR) has successfully passed through our screening process, making it a strong candidate for those focused on trend investing. One significant aspect of MLR is its impressive price increase of 29.6% over the past 12 weeks, demonstrating investor confidence in its potential for further appreciation.

However, analyzing just the three-month price change isn't enough to ascertain the trend's reliability; shorter-term movements are equally important. MLR has also recorded a significant 10.8% price increase over the previous four weeks, reinforcing the idea that its upward trend remains intact.

Currently, MLR is trading at 90.1% of its 52-week high-low range, suggesting it may be on the brink of a breakout. This is another positive indicator for prospective investors.

From a fundamental standpoint, MLR boasts a Zacks Rank of #2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on their earnings estimate trends and EPS surprises. Such rankings are crucial as they directly affect a stock's near-term price movements.

The Zacks Rank system classifies stocks using four earnings estimate-related factors into five categories - from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell). Historically, Zacks Rank #1 stocks have averaged an impressive returns of +25% annually since 1988. You can find an extensive list of today's Zacks Rank #1 stocks easily.

Moreover, MLR has garnered a strong average broker recommendation of #1 (Strong Buy), indicating that analysts are optimistic about its near-term performance.

Given these factors, it appears that MLR's price trend is likely to continue its upward trajectory.

In addition to Miller Industries, there are numerous other stocks that meet the criteria of our "Recent Price Strength" screening. Investors may wish to explore these options as they seek robust stocks to consider adding to their portfolios.

Utilizing the right screening tools can significantly enhance your stock-picking success. Depending on your investment style, you can choose from over 45 curated Zacks Premium Screens designed to outperform the market.

It's crucial to remember that effective stock-picking strategies should exhibit a track record of profitability. You can test your strategies effectively with the Zacks Research Wizard, allowing you to backtest various approaches to stock selection while offering access to top-notch screening methods.

For those interested in trying out these assessment tools, a complimentary trial of the Research Wizard is available today.

trend, investing, stocks