by Dave Moenning | September 18, 2013 1:04 pm
At StateoftheMarkets.com, we strive to “own the best and ignore the rest” in our equity portfolios. Toward this end, each day we search our database for a “top stock” (a top rated company in terms of earnings strength as well as company and industry performance) that presents a strong technical “set up” and a good entry point.
In short, when our equity team is looking to add a stock to one of our portfolios, the “bull’s eye” stock shown below is generally their first choice.
Prestige Brands Holdings (PBH) is our most compelling buy today due to the fact that it is a top-rated stock (in terms of earnings strength and company/industry performance) with a strong technical set-up. PBH has been a steady gainer this year, and recently piqued our interest after a huge spike higher in early July. Since then, it has consolidated back down and formed solid support at $31, a price which it has tested and held on multiple occasions. PBH’s long- and intermediate-term uptrends are still intact, and it looks poised to move higher from here. PBH crossed above its 5-, 10-, and 18-day moving averages late last week, which is a bullish sign. The stock hit intraday highs of $36 in mid-July, so we’re looking for a move back to that area in the coming weeks. We’d give PBH a little leeway with a closing stop at $31.23, and pick it up at current prices for a short-term move higher.
At the current price (~$32.63).
Prestige Brands Holdings is a holding company. The company, along with its subsidiaries, is engaged in the marketing, sales and distribution of over-the-counter healthcare and household cleaning brands to mass merchandisers, drug stores, supermarkets, club and dollar stores primarily in the United States and Canada.
The Stock Rating indicates the combined score of our proprietary Earning Strength and Company Performance models. The rating scale is 0 – 10 with 10 being the highest.
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