Ocwen (OCN) is on the Move, Here's Why the Trend Could be Sustainable

Asia's Tech News Daily

Most of us have heard the dictum “the trend is your friend.” And this is undeniably the key to success when it comes to short-term investing or trading. But it isn’t easy to ensure the sustainability of a trend and profit from it.

>, Click to get this free report, Zacks Investment Research” title=”Zacks Premium Screens, See 3 crypto-related stocks now >>, Click to get this free report, Zacks Investment Research”> – Zacks

Often, the direction of a stock’s price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it’s important to ensure that there are enough factors — such as sound fundamentals, positive earnings estimate revisions, etc. — that could keep the momentum in the stock going.

Our “Recent Price Strength” screen, which is created on a unique short-term trading strategy, could be pretty useful in this regard. This predefined screen makes it really easy to shortlist the stocks that have enough fundamental strength to maintain their recent uptrend. Also, the screen passes only the stocks that are trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.

Ocwen Financial (OCN) is one of the several suitable candidates that passed through the screen. Here are the key reasons why it could be a profitable bet for “trend” investors.

A solid price increase over a period of 12 weeks reflects investors’ continued willingness to pay more for the potential upside in a stock. OCN is quite a good fit in this regard, gaining 22.3% over this period.

However, it’s not enough to look at the price change for around three months, as it doesn’t reflect any trend reversal that might have happened in a shorter time frame. It’s important for a potential winner to maintain the price trend. A price increase of 9.7% over the past four weeks ensures that the trend is still in place for the stock of this mortgage servicer.

Moreover, OCN is currently trading at 91.4% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.

Looking at the fundamentals, the stock currently carries a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises — the key factors that impact a stock’s near-term price movements.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>

Another factor that confirms the company’s fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock’s near-term price performance.

So, the price trend in OCN may not reverse anytime soon.

In addition to OCN, there are several other stocks that currently pass through our “Recent Price Strength” screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.

This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.

However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.

Click here to sign up for a free trial to the Research Wizard today.


Bitcoin, Like the Internet Itself, Could Change Everything

Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.

Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. 

See 3 crypto-related stocks now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

 

Ocwen Financial Corporation (OCN): Free Stock Analysis Report

 

To read this article on Zacks.com click here.

 

Zacks Investment Research

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Disappointing Decade for European Bank Stocks Gives Way to Rally

1 / 4Disappointing Decade for European Bank Stocks Gives Way to Rally (Bloomberg) — After a dismal decade, European banking stocks are finally on a tear, and bulls say the ... Read more »

One of the World's Wealthiest Oil Exporters Is Becoming Unlivable

1 / 5One of the World’s Wealthiest Oil Exporters Is Becoming Unlivable (Bloomberg) — Most Read from Bloomberg Trying to catch a bus at the Maliya station in Kuwait City ... Read more »

Where could the Rolls-Royce share price be in 10 years?

Read more »

Europe's Governments Face a Reckoning as Energy Prices Surge

Europe’s Governments Face a Reckoning as Energy Prices Surge (Bloomberg) — Europe is gripped by one of the worst energy crunches in history, forcing politicians to step in as soaring ... Read more »

40% of self-employed consider biz closure amid pandemic: survey

(The Federation of Korean Industries)Four out of 10 self-employed people in South Korea are considering closing their businesses due to sluggish sales amid the long-enforced strict social distancing rules during ... Read more »

China's Property Crisis Reaches Biggest Builder Country Garden

1 / 2China’s Property Crisis Reaches Biggest Builder Country Garden (Bloomberg) — The crisis engulfing China’s property sector is impacting its biggest developer, with Country Garden Holdings Co.’s shares and ... Read more »

5 Best Password Managers for 2022

You have enough on your plate as an entrepreneur, do you really want to have to remember all of your passwords, too? Writing them down in a notebook or sticky notes ... Read more »

Investors Search for Safe Havens as Omicron Takes Hold in Asia

1 / 4Investors Search for Safe Havens as Omicron Takes Hold in Asia (Bloomberg) — The threat of the omicron variant is becoming real for many of Asia’s biggest countries ... Read more »

Wall Street's Big Banks Are Set to Tap the Corporate Bond Market

(Bloomberg) — Wall Street’s biggest banks are expected to hit the corporate bond market after they report quarterly results in an effort to raise money before the Federal Reserve knocks ... Read more »

Ackman Says Fed Needs Half-Point Rate Hike to Regain Credibility

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg Billionaire investor Bill Ackman says the Federal Reserve ... Read more »

Roughed-Up Treasury Market Must Now Reckon With Supply Shifts

1 / 2Roughed-Up Treasury Market Must Now Reckon With Supply Shifts (Bloomberg) — The Treasury market is facing a patch of supply-related cross-currents that may complicate the path for yields ... Read more »

Embrace the Unknown to Transform Your Life

“The future belongs to those who believe in the beauty of their dreams.” — Eleanor Roosevelt As we continue in the second year of the pandemic, many of us wonder ... Read more »

Dominic Raab: I'll stop dangerous criminals abusing Human Rights Act 'to line their pockets'

Dominic Raab: I’ll stop dangerous criminals abusing Human Rights Act ‘to line their pockets’ Dominic Raab has pledged to stop dangerous offenders from “lining their pockets” with taxpayers' funds after ... Read more »

New York State Tax Receipts Surge to $12.9 Billion Over Forecast

(Bloomberg) — New York state tax revenue soared to $84.4 billion in the first nine months of the fiscal year, $12.9 billion more than forecast, bolstered by a business tax ... Read more »

Energi Norge warns against setting a maximum price for electricity

According to Energi Norge, setting a maximum price for electricity could lead to critical energy shortages in Norway and stop the green shift. Several political parties have advocated a maximum ... Read more »

UK tourism industry in peril as overseas visitors stay away

Photograph: Ben Stansall/AFP/Getty Images More than 40% of firms say they are likely to go under despite staycation boom Last year’s boom in British summer holidays was not enough to ... Read more »

Meme Stocks, De-SPACS and Biotech Slump in Rough Start to 2022

1 / 6Meme Stocks, De-SPACS and Biotech Slump in Rough Start to 2022 (Bloomberg) — Meme stocks, blank-check companies and high-flying biotech names that were all the rage at the ... Read more »

Bitcoin Options Shift Has Some Bulls Calling $40,000 the Bottom

1 / 3Bitcoin Options Shift Has Some Bulls Calling $40,000 the Bottom (Bloomberg) — Investors searching for clues as to where Bitcoin is headed next may want to take a ... Read more »

Anyone at age 65 should evaluate how — or if — Medicare will fit into their health-care coverage. Here's why

miodrag ignjatovic | E+ | Getty Images It's not just retirees who need to think about Medicare. Anyone who plans to keep working when they reach the eligibility age of ... Read more »

The Tax Administration believes that Norwegians are sitting on billions in unreported cryptocurrencies

The Tax Administration is now stepping up its efforts against unreported cryptocurrencies. It believes that several hundred thousand Norwegians have not reported cryptocurrency to the authorities. “New figures show that ... Read more »

The Fed is about to see a lot of new faces. What it means for banks, the economy and markets

Sarah Bloom RaskinAndrew Harrer | Bloomberg | Getty Images In what likely will be just a few months' time, the Federal Reserve will look a lot different: Three new governors, ... Read more »

Wage inflation has arrived in a big way and Jamie Dimon says CEOs 'shouldn't be crybabies about it'

Jamie Dimon, chief executive officer of JPMorgan Chase & Co.Giulia Marchi | Bloomberg | Getty Images Banks have been one of the main beneficiaries of high inflation recently because their ... Read more »

Amy Schneider's more than $1.1 million in 'Jeopardy!' winnings will come with a hefty tax bill

This image provided by Jeopardy Productions, Inc. shows game show champion Amy Schneider on the set of “Jeopardy!” Schneider is the first trans person to qualify for the show's Tournament ... Read more »

Glaxo Rejects $68 Billion Unilever Bid for Consumer Business

1 / 2Glaxo Rejects $68 Billion Unilever Bid for Consumer Business (Bloomberg) — GlaxoSmithKline Plc rejected an offer from Unilever Plc for the drugmaker’s consumer healthcare unit last year that ... Read more »

Even After Big Price Cuts, These Tech Stocks Are No Bargains

1 / 3Even After Big Price Cuts, These Tech Stocks Are No Bargains (Bloomberg) — To see why a leveling of tech valuations has the capacity to terrify even staunch ... Read more »

Fed Will Find It Hard to Talk About Path Ahead After March Hike

1 / 2Fed Will Find It Hard to Talk About Path Ahead After March Hike (Bloomberg) — Federal Reserve officials head toward their January meeting with only tentative conviction that ... Read more »

4 dirt-cheap FTSE 100 shares I'd buy in 2022

Screen of price moves in the FTSE 100 I’m thinking about buying these ultra-cheap FTSE 100 shares. Allow me a few minutes to explain why I believe they could help ... Read more »

Charting the Global Economy: Inflation's Grip Tightens Further

Charting the Global Economy: Inflation’s Grip Tightens Further (Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg ... Read more »

Yamal gas pipeline continues flowing eastwards from Germany to Poland

A view shows pipelines near Gazprom’s gas processing facility at Bovanenkovo gas field MOSCOW (Reuters) – The Yamal-Europe pipeline, which usually sends Russian gas west into Europe, flowed east from ... Read more »

Russia Rejects IEA Charge It's to Blame for Europe Gas Crunch

Russia Rejects IEA Charge It’s to Blame for Europe Gas Crunch (Bloomberg) — Most Read from Bloomberg Russia has nothing to do with the energy crisis in Europe, Deputy Prime ... Read more »

What's next for the Lloyds Bank share price?

A brochure showing some of Lloyds Banking Group’s major brands If there is one stock that has started 2022 on a good note, it has to be the FTSE 100 ... Read more »

Apple complies with Dutch watchdog ruling on payment options in Netherlands

FILE PHOTO: The Apple Inc. logo is seen in the lobby of New York City’s flagship Apple store AMSTERDAM (Reuters) – Apple said on Saturday it would allow developers of ... Read more »

Betting Against the U.K. Is a Favorite Trade in Currency Markets

1 / 3Betting Against the U.K. Is a Favorite Trade in Currency Markets (Bloomberg) — Most Read from Bloomberg The pound’s best start to a year since 2018 is enticing ... Read more »

France's Nuclear Champion Sacrificed to Stave Off Energy Crisis

(Bloomberg) — Most Read from Bloomberg High energy prices are bearing down on Europe’s economy like a freight train, and France just pushed its largest electricity producer into the path ... Read more »

UK considering bank loan plan to smooth energy cost hit - BBC

Flames come out of a domestic gas ring of an oven in Durham, Britain, September 23, 2021. LONDON (Reuters) – Britain's government is considering plans to smooth a sharp rise ... Read more »

Will high inflation lead to a stock market crash?

Dictionary definition of inflation We are only two weeks into 2022 so far. And it is already becoming clear that inflation could be the one big risk to my investments ... Read more »

‘Nearly' penny stocks! 2 dividend-paying shares I'd buy

A person holding onto a fan of twenty pound notes I think these low-cost UK shares could help me make a heap of cash. Here’s why I believe these dividend-paying ... Read more »

Exploring The Growing List Of Countries Which Indicates That Cash May Become Obsolete

Over 3000 years ago the world’s first recognizable coins were produced in China. Flash forward to present times and we can see that the market size of China’s digital economy ... Read more »

Should You Buy Webster Financial (WBS) Ahead of Earnings?

Investors are always looking for stocks that are poised to beat at earnings season and Webster Financial Corporation WBS may be one such company. The firm has earnings coming up ... Read more »

General Electric (GE) Arm Wins Wind Turbine Deal From Continuum

General Electric Company’s GE business unit, GE Renewable Energy, recently secured a contract from Continuum Trinethra Renewables Pvt Ltd for delivery, installation and commissioning of onshore wind turbines. Continuum Trinethra ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic