The adage “the trend is your friend” holds true in short-term investing, but identifying sustainable trends and profiting from them isn’t easy. Oftentimes, trends reverse before investors can exit their positions, resulting in losses. To ensure a profitable trade, investors should look for stocks with strong fundamentals, positive earnings estimates, and indicators of sustained momentum.
Idaho Strategic Resources, Inc. (IDR) is one such stock that fits the bill. Its recent price performance, combined with solid fundamentals, makes it a compelling choice for trend-following investors. Over the past 12 weeks, IDR has surged by 31.8%, reflecting investor enthusiasm and the potential for continued growth. Furthermore, the stock’s 14.7% increase over the past four weeks confirms the trend remains in place.
Adding to the bullish picture, IDR is currently trading at 98.4% of its 52-week high-low range, indicating potential for a breakout. This suggests that the stock could continue its upward trajectory.
The stock’s strong fundamentals bolster the case for continued momentum. IDR boasts a Zacks Rank #1 (Strong Buy), which signifies its position within the top 5% of over 4,000 stocks ranked based on earnings estimate revisions and EPS surprises. These are key factors driving near-term price movements.
The Zacks Rank system, renowned for its impressive track record, has consistently generated average annual returns of +25% for Zacks Rank #1 stocks since 1988.
Adding to IDR’s appeal, the brokerage community holds a highly optimistic view of the stock, evidenced by an Average Broker Recommendation of #1 (Strong Buy). This suggests strong confidence in its near-term price performance.
With its positive price trend, solid fundamentals, and favorable analyst sentiment, IDR appears well-positioned to continue its upward trajectory. This makes it a worthwhile consideration for investors seeking to capitalize on the power of trends.
