In this article I highlight ten stocks that share two characteristics. The first is that they have all been outstanding performers from their original IPO until today. The second is that they are all in the process of breaking out of long downtrends. I calculated their recent performance from the June 16 market low (so far) through today. All of these names are up by more than the market over that time frame.
Eight out of the ten stocks have broken above their 100 day moving averages. The other two are getting close.
Chart 1. Paycom Software
Stats for PAYC
Chart 2. Apple
Stats for AAPL
Chart 3. IDEXX Labs
Stats for IDXX
Chart 4. Dick's Sporting Goods
Stats for DKS
Chart 5. Old Dominion Freight Line
Stats for ODFL
Chart 6. Factset Research
Stats for FDS
Chart 7. EPAM Systems
Stats for EPAM
Chart 8. Tesla
Stats for TSLA
Chart 9. Cable One
Stats for CABO
Chart 10. O'Reilly Automotive
Stats for ORLY
Final thoughts
It's important to note that several of these stocks have become expensive and are not good buy candidates at current prices. It would be better to place the names you like on your watchlist and wait for the next pullback.
As I said at the beginning, the common thread among these stocks is their high lifetime CAGRs and their strong price performance since June 16th when the market made its recent low for this cycle. We may see a lower low before this bear is finished, but it's good to see the seeds of the next bull phase begin to sprout.