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If you plan to invest in stocks for short term, then it pays to follow bullish stocks. Bullish stocks are those stocks which have broken their usual pattern and are all set to gain considerable price momentum in the short term. However, this strategy poses risk too as you may fall prey to ‘Pump and dump’ stocks, which are artificially boosted to benefit their promoters. If you are planning to invest in such breakout stocks, do your proper research with regard to the company business, its promoters and future plans. Following are the top 5 stocks which have gained price momentum in today’s trading session.
Gulfport Energy Corporation (NASDAQ: GPOR): The stock is currently trading at $28.04, up about 9 percent from its previous close of $25.72. It touched its highest point at $28.50, though it is still way below its 52 weeks high of $37.80. This shows that the stock has plenty of upside left. It has recently received Buy rating from equity research firm Sidoti and got the price target of $37. The company is involved in the business of exploring and developing oil and natural gas properties. Gulfport Energy Corporation has total market cap of $1.56 billion and recently bought Boy Scout 1-33H well in the Utica Shale. It also reported that its WCBB facilities did not sustain any obvious damage from Hurricane Isaac. The stock is trading at P/E ratio of 13.45 and its beta stands at 2.46.
Guidewire Software Inc. (NYSE: GWRE): The stock made good gains in after-hours trading yesterday and the stock is continuing its good run in current session as well. The stock is currently trading at $31.79, up 8.28 percent from its previous close of $29.35. It made a solid debut at $32.94 in the current trading session and touched the high of $33 before retracing some of its gains. Yesterday, the company reported 33 percent increase in its quarterly revenue to $67.6 million. The company exceeded the upper limit of its revenue forecast by $4.6 million. It also grew its annual license revenue by 24 percent. The company stock is trading at price earnings ratio of 152.90 and the company reported its latest Earnings per Share at $0.21. Guidewire Software Inc. currently commands the market capitalization of $1.66 billion.
PT Indosat Tbk (NYSE: IIT): The stock is trading 7 percent up at $28.59. PT Indosat Tbk stock has oscillated between $18.48 and $34.35 in the past 52 weeks. Apart from current price momentum, the stock also offers good dividend yield of more than 3 percent. The company is based out of Indonesia and deals in fast growing telecommunication sector. It is well placed to reap the benefits of growing economy of Indonesia and increased demand, though a point of caution is its dependence on fixed wireline business. PT Indosat Tbk commands market cap of $3 billion and the stock has beta of 0.94. The stock is also a good candidate if you are looking to diversify your holding to reduce the beta. The company is steadily improving its customer base and is growing in cellular sector as well.
Safeway Inc. (NYSE: SWY) The company, with market cap of $4 billion is engaged in the business of retail distribution of food and drug items. Safeway Inc. is now planning to float IPO of its Blackhawk gift card business. The market has reacted favorably to the news and the stock touched the high of $17.03 in current trading session and currently is trading at $16.86, up 6.5 percent from its previous close of $15.82. Safeway Inc. is planning to make the IPO by the first half of 2013 and will be filing a registration statement in the near future. The company operates Blackhawk as its subsidiaries and sells gift cards at retail spots. The stock has traded in the range of $14.73 and $23.16 in the past 52 weeks.
Yelp Inc. (NYSE: YELP)The stock broke out at the tail end of the last month and is currently riding on a bullish wave. In last four sessions, it has gained from $18.26 to $24.04. Current trading session seems to be equally good as the stock is already up 6.39 percent from its yesterday’s close of $24.04. Its current price of $25.80 is quite a few notches lower than its intraday high of $26.35. The stock is up on the positive statement made by its CEO about its future growth trajectory. The CEO claimed that the company is looking to monetize ads in a better way.
