These five stocks are well below their average price targets, but two could catch up $GM $UAA $UAL $HAL $PYPL (via TradingNation)
"This stock is one that's been sliding lower for the last three or four months, but it's now trying to bounce back and it's bumping up against its 100-day moving average," Maley said, referring to PayPal's chart.
"That moving average has provided some tough resistance for this stock on several occasions this year, so if it can finally break above that, it's probably going to give some of the momentum players some impetus to buy the stock," Maley said. "Not only is that 100-day moving average a key level, [but] it's also the neckline of an inverse head-and-shoulders pattern.
PayPal shares closed nearly 2% higher on Tuesday at $106.20, just 44 cents below their 100-day moving average at $106.64."We're coming into the end of the year, where we've got thinly traded environments," Tatro said in the same "Trading Nation" interview. "You've got managers that are going to be looking for those high-beta names. If you can couple that with a fundamental case, you've got, really, the mix for some great opportunities.
High-beta investments are those that tend to make outsized moves relative to the broader market. They tend to carry a higher degree of risk, but also greater momentum, than their more stable peers. "Here's a stock that ... has an opportunity to gather some significant beta to try and get that performance edge that managers are looking for, but it's also a stock that, from a [price-to-earnings-growth] ratio standpoint, [is] trading at 30 times forward earnings, which at first glance you're like, 'Wow, that's very expensive,'" Tatro said of PayPal."Fortunately, those earnings are growing at 65%.
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