As markets remain shaky, technical analysis helps investors find good stock opportunities. Using TipRanks’ Technical Analysis Screener, we have identified three stocks, Western Alliance (WAL), Madrigal Pharmaceuticals (MDGL), and Autoliv (ALV), that are currently flashing Strong Buy signals. These stocks are showing bullish momentum and present short- to mid-term upside potential, backed by Strong Buy ratings from Wall Street analysts.
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Notably, technical analysis studies a stock’s past price movements and trading volume to predict future trends. It uses tools like moving averages, RSI, and chart patterns to identify Buy or Sell signals. Within this context, TipRanks’ Technical Analysis tool simplifies this process by combining multiple indicators into one easy-to-understand dashboard for users. Let’s dive into the details.
Is Western Alliance a Good Stock to Buy?
Western Alliance is a U.S.-based commercial bank that provides banking and financial services to small and medium-sized businesses.
According to TipRanks’ technical analysis, WAL stock is currently in an upward trend. It holds a Strong Buy rating based on both overall technical consensus and moving average indicators. One key indicator, the Rate of Change (ROC), which tracks momentum by measuring the percentage change in price over a set period, currently stands at 0.11 for WAL. Since an ROC above zero suggests upward momentum, this signals a Buy for the stock.
Is Madrigal Pharmaceuticals a Buy?
Madrigal Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing innovative therapies for liver and metabolic diseases.
According to TipRanks’ technical analysis, MDGL stock holds a Strong Buy consensus. The stock also holds a Strong Buy rating based on moving average consensus, supported by all 12 bullish signals, indicating strong upward momentum.
Is Autoliv a Buy?
Autoliv is a global automotive safety company that develops and manufactures airbags, seatbelts, and other safety systems.
From a technical analysis perspective, ALV stock is rated a Strong Buy on overall consensus as well as moving average consensus. Additionally, the stock shows a positive ROC of 2.55, supporting a Buy signal and indicating strong upward momentum.