Stock screens make it easier to find winners. IBD's Screen of the Day is a go-to place for picking leaders. The Global Leaders list includes three names for further analysis. Vista Energy is the first to note.
Shares are forming a cup base with a 22.94 entry. A strong feature on the Vista chart is the multiple times the stock got support at the 50-day moving average, according to IBD MarketSmith.
On the weaker side of the chart, the base is a late-stage pattern; it is forming after shares broke out of a fifth-stage ascending base in February.
A sound Composite Rating of 95 and Relative Strength Rating of 98 show off Vista's market leadership. With the stock acting exceptionally well, it may yet extend gains even from a late-stage base.
Solid sales and earnings growth over the seven most recent quarters underline the stock's fundamental strength. In the first quarter, the Mexico-based oil transporter saw sales growth of 46% while earnings grew a whopping 707%.
Wall Street estimates earnings growth of 60% for 2023. Vista operates several wells in the Vaca Muerta, a shale oil and gas basin in Argentina. The global leader ranks first in the international oil and gas exploration and production group. However, the group has dropped to 179th place among IBD's 197 industry groups as global recession fears and sluggish China demand pressure energy stocks.
Global Leader ASML Nears Buy Point
Dutch lithography company and leader in the chip industry, ASML is near a 683.28 buy point. Shares broke out of a cup with handle last week but have given back gains. A key support level at the 50-day line for the Global Leaders list member should be watched.
Technical and fundamental strength support the stock. The chip leader sports a perfect Composite Rating of 99 and a Relative Strength Rating of 90.
Company fundamentals have improved sharply. First-quarter sales grew 87% to $7.3 billion while earnings per share of $5.37 were up a hefty 180%. In the two previous quarters, EPS fell and sales fell 7% (in Q3) and rose 21% (in Q4). Growth estimates of 35% for 2023 and 20% for 2024 are other bullish indicators for this global leader.
ASML makes the lithography equipment for leading logic and memory chip manufacturers. The stock holds second position in the semiconductor equipment group, which ranks 28th.
Chinese Retailer In Focus
China's Miniso Group is the third stock to note on the Global Leaders screen. Shares are trending along the 50-day line and may offer an entry at 19.59 from an undefined base.
The stock has a Relative Strength Rating of 99 and an EPS Rating of 98. The Composite Rating of 96 is also impressive. March-quarter sales grew 16% to $430.1 million while earnings per share of 22 cents were up 290%. Wall Street estimates 118% earnings growth for the fiscal year ending in June, tapering off to 24% the next year.
The Chinese retail and wholesale company sells lifestyle products and toys under the brand names Miniso and Top Toy. The global leader leads the discount variety industry group.
Please follow VRamakrishnan on Twitter for more news on the stock market today.
