While the S&P has gained 8% year-to-date and the NASDAQ Composite has gained 25.2%, the rising chance for another rate hike and heightened recessionary fears are shaking investors’ confidence. As a result, the near-term market outlook remains cloudy.
Therefore, I present momentum stocks Taro Pharmaceutical Industries Ltd. (TARO), Tennant Company (TNC), and Carrols Restaurant Group, Inc. (TAST), which could be solid buys now. These stocks are currently trading above their 50-day and 200-day moving averages, despite the market volatility.
