At many points in September, investors heard about the S&P 500 hitting a record high. But at several points in that month, the index pulled back instead of moving higher. This is called a resistance level, a technical point where buying activity weakens, leaving room for sellers to come in.
You're well aware of this price movement if you're invested in an exchange-traded fund (ETF) such as the SPDR S&P 500 ETF Trust. The SPY is up just 0.29% in the 30 days ending October 1.
But if you're investing in individual stocks, this choppy price action can be an opportunity to look for stocks with strong fundamentals that are being overlooked by investors. These are the stocks that have the best opportunity for strong gains. To find this group of stocks, we used the MarketBeat stock screener to find S&P 500 stocks trading within 30% of their 52-week low with a forecast for at least 10% upside in earnings in the next 12 months.
A Breakout Stock in a Breakout Sector
SLB Inc. (NYSE: SLB), formerly known as Schlumberger, is an oilfield services company. The company's revenue and earnings are less sensitive to the price of crude oil but highly sensitive to CAPEX spending. In the last year, many of the major oil ...
