Accel Entertainment(ACEL) ZACKS·2024-11-12 14:51Core Viewpoint - The article emphasizes the importance of confirming the sustainability of stock trends for successful short-term investing, highlighting the use of a specific screening strategy to identify stocks with strong fundamentals and positive price momentum. Group 1: Trend Analysis - The trend in short-term investing is crucial, and confirming its sustainability is essential for profitability [1][2] - A predefined screening strategy, "Recent Price Strength," helps identify stocks with sufficient fundamental strength to maintain their upward trend [3] Group 2: Stock Example - Accel Entertainment (ACEL) - Accel Entertainment (ACEL) has shown a solid price increase of 7.7% over the past 12 weeks, indicating investor confidence [4] - The stock has also increased by 5.2% in the last four weeks, suggesting that the upward trend is still intact [5] - ACEL is trading at 85.5% of its 52-week high-low range, indicating a potential breakout [5] Group 3: Fundamental Strength - ACEL 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 stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term performance [7] Group 4: Additional Insights - The article suggests that ACEL may continue its price trend without reversal in the near future, and encourages exploring other stocks that meet the screening criteria [8] - The effectiveness of stock-picking strategies can be backtested using tools like the Zacks Research Wizard, which offers insights into successful strategies [9]