We love our bottoms-up scans here at All Star Charts. We tend to get really creative when making new universes as we want to be sure they will deliver us the best opportunities the market has to offer.
However, when it comes to this one, it couldn't be any simpler!
With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US stocks.
Welcome to TheJunior Hall of Famers.
This scan is composed of the next 150 largest stocks by market cap, those that come after the top 150 and are thus covered by the Hall of Famers universe. Many of these names will someday graduate and join our original Hall Of Famers list. The idea here is to catch these big trends as early on as possible.
There is no need to overcomplicate things. Market cap is a quality filter at the end of the day. It only grows if price is rising. That's good enough for us.
We love to golf around here, even though we lose a lot of golf balls. But we're not the only ones.
Garmin $GRMN designs and manufactures a variety of fitness smartwatches. This includes a watch for golfers.
The technology is super cool. It's like having a caddie on your wrist.
They've programmed damn near every golf course in the world into this device. This shows golfers various things like distances to greens, hazards, and doglegs.
In addition, they embedded swing-tracking technology into the watch. This analyzes swing speed, tempo, club path, and more.
The bottom line is that this company is doing something right, and the market is noticing.
On Wednesday, they reported a double beat, and the reaction was super positive. The stock rallied over 12% and had a reaction score of 5.3.
The fitness segment (which includes the watches) is growing revenues by 32% Y/Y. This is extraordinary growth.
It wasn't just about the last quarter's results. The management team raised its forward guidance and increased the dividend by 20%.
The market loved everything about this report, and the reaction reflects that.
