Best Uptrend Stocks In 2017
I wanted to start off 2017 by making a list of the best uptrend stocks. These are stocks that have been in a strong uptrend for a couple months and will likely continue their climb upwards. There is a bit of a misconception that trend following is easy but this is often not the case. This is because it’s hard to tell when a trend will end and the change of tides is often abrupt. However, I will do my best to explain how to trade these up trending stocks so that you have the best chance to profit off of them. Let’s get started with a relatively overlooked stock.
You might also be interested in some other “best stocks” lists I’ve made. If so check out these posts.
- Click here for the best IPO stocks, here for the best oil stocks, here for best stocks under $10 or here for the best biotech stocks.
U.S. Silica Holdings (SLCA)
SLCA might be one of the best stocks on the market and one of the easiest to trade. Unfortunately, the stock gets little attention. As you can see, the stock has been in the strong uptrend for several months now. This will likely continue if everything goes as is. Moreover, SLCA has a reputation of having very strong uptrends, at least in my book. In fact, the last time the stock started up trending its share price rose from under $10 all the way up to an all-time high of around $70. This uptrend actually lasted about two years. This impressive strength makes US Silica Holdings one of the best uptrend stocks out there. A nice entry point for this stock is to wait for a retest of its 50 day SMA. In conclusion, there is no reason why the stock would not be able to reach its previous all-time high.
NVIDIA Corporation (NVDA)
It should come as no surprise that NVIDIA gets a spot on the list of the best uptrend stocks. Although the stock rose enormously, especially this year, the trend upwards can still continue. However, with such a rise, one should expect a pull back. In truth, the pullback has already started after Citron Research bashed the company. At this point, the best thing to do is to wait for a retest of the 50 day SMA and then wait for confirmation before starting a position. This is because the stock will need to rest a bit and it will be hard to tell where its support truly is. Fundamentally, the company and its future prospects are still intact. Basically, the stock will likely drop in the short-term but it can then continue its gains after the turmoil is out-of-the-way.
Advanced Micro Devices (AMD)
AMD was previously a stock that performed very poorly and even looked like a dying company. But, 2016 brought new hope for the company as it became a sympathy play of NVDA. Even though AMD’s rise is a bit more choppy and aggressive it remains one of the best uptrend stocks. Unfortunately, since the stock has been trading in a similar way to NVIDIA it will likely see a decline in the short-term. However, after the stock retests its 50 day SMA it could climb back up to the $15 dollar area relatively easily.
Micron Technology (MU)
MU is a stock with a volatile past. But, the stock still managed to have strong uptrends. Luckily, the company has also avoided disaster several times. In fact, the stock was very popular about two years back and it is now starting to get more and more attention again. This is good because the stock it is pretty low key for the time being and will likely return in the spotlight soon, thus bringing in many new shareholders. I have no doubt that the stock will continue to hold its 50 day SMA and retest the mid $30 range. Micron Technology may be number one on the best uptrend stocks list because of the fact that it has much more possible growth from where it is now. This stock has shown that a set it and forget it method will provide returns that are about as easy as can be.