8 High-momentum stocks set for success – Oppenheimer

Momentum is currently a key factor when investing, according to Oppenheimer analysts.

“Strength in the momentum factor is perhaps the most notable theme we can identify.”

Financials (XLF), industrials (XLI), and REITs (XLRE) exhibit the top scores in momentum; energy (XLE), consumer discretionary (XLY), and health care (XLV) have the lowest.

In a technical analysis note, analysts identified high-momentum stocks in the Russell 1000 (NYSEARCA:IWB) that reached a new 52-week high last week.

These are eight “buy” ideas that have rallied through key resistance, and Oppenheimer analysts believe are positioned to accelerate higher.

• MicroStrategy, Inc. (MSTR) – Up 259.06% year-to-date.
• Zebra Technologies Corp. (ZBRA) – Up 38.19% year-to-date.
• Trade Desk, Inc. (TTD) – Up 65.91% year-to-date.
• Live Nation Entertainment, Inc. (LYV) – Up 25.34% year-to-date.
• Gates Industrial Corp. (GTES) – Up 46.39% year-to-date.
• XPO, Inc. (XPO) – Up 52.13% year-to-date.
• AbbVie, Inc. (ABBV) – Up 30.12% year-to-date.
• East West Bancorp, Inc. (EWBC) – Up 34.22% year-to-date.