4 Momentum Stocks to Buy in June By StockNews

4 Momentum Stocks to Buy in June By StockNews


© Reuters. 4 Momentum Stocks to Buy in June

To dodge current market volatility that is being driven in-part by concerns over rising inflation, it could be wise to invest in Canadian Natural Resource (NYSE:), SS&C Technologies (SSNC), Mitsubishi Chemical (MTLHY), and The Timken (TKR). The shares of these companies have gained momentum over the past few months, which they are expected to maintain in the near term. So, read on for some details on these names.Even though the economic activities in the United States are returning now to pre-pandemic levels thanks to a rapid vaccination drive, the government’s measures to reduce vaccine hesitancy, and supportive policies, the stock market remains volatile. This can be attributed primarily to investors’ concerns over rising inflation.

Amid this environment, turning to momentum investing could be rewarding because stocks that have managed to gain momentum over the past few months might be able to maintain it in the near- to mid-term irrespective of volatility witnessed by the broader market. Investors’ increasing interest in momentum stocks is evident in the iShares MSCI USA Momentum Factor ETF’s (MTUM) 11.6% returns over the past three months.

Canadian Natural Resources Limited (CNQ), SS&C Technologies Holdings, Inc. (SSNC), Mitsubishi Chemical Holdings Corporation (MTLHY), and The Timken Company (NYSE:) have been generating solid momentum over the past few months and we think should keep rallying in the coming months, dodging the market volatility. So, it could be wise to scoop up these stocks now.

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