Stocks to Buy in June: Ball Corp. (BLL)
Click to EnlargeBall Corp. (BLL) is having a terrific year so far, and the technicals suggest more outperformance to come. Shares in the maker of aluminum cans are up nearly 18% for the year-to-date, beating the broader market by about 13 percentage points.
Price momentum is clearly on the side of BLL stock. For one thing, BLL shares are currently trading 6.9% above their 50-day moving average, and 18% above their 200-day moving average.
True, BLL stock is flirting with overbought territory. The relative strength indicator of 71 is well above the industry average of 53, according to data from Thomson Reuters Stock Reports. But it’s important to remember that it’s not bearish for a stock to be overbought. It merely suggests it could be due for a pullback. That’s a boon for opportunistic investors looking for stocks to buy.
History is also on the side of BLL stock. Based on a decade of data, BLL stock has an implied upside of 0.7% this month, according to Thomson Reuters Stock Reports.