Flotek(FTK) ZACKS·2024-11-08 14:56Core Viewpoint - The article emphasizes the importance of confirming the sustainability of stock trends for successful short-term investing, highlighting that price movements should be supported by strong fundamentals and positive earnings estimates. Group 1: Stock Performance - Flotek Industries (FTK) has shown a solid price increase of 51.2% over the past 12 weeks, indicating strong investor interest in the stock [4] - FTK has also experienced a price increase of 35% over the last four weeks, suggesting that the upward trend is still intact [5] - The stock is currently trading at 96.3% of its 52-week high-low range, indicating a potential breakout [5] Group 2: Fundamental Strength - FTK holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [6] - The Average Broker Recommendation for FTK is 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [7] - The Zacks Rank stock-rating system has a strong historical performance, with Zacks Rank 1 stocks averaging an annual return of +25% since 1988 [7] Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for identifying stocks like FTK that are on an uptrend supported by strong fundamentals [3] - Investors are encouraged to explore other stocks that meet similar criteria and consider various Zacks Premium Screens tailored to different investing styles [8] - The effectiveness of stock-picking strategies can be backtested using the Zacks Research Wizard, which includes successful stock-picking strategies [9]