We love our bottoms-up scans here at All Star Charts. We tend to get really creative when making new universes as we want to be sure they will deliver us the best opportunities the market has to offer.
However, when it comes to this one, it couldn't be any simpler!
With the goal of finding more bullish setups, we have decided to expand one of our favorite scans and broaden our regular coverage of the largest US stocks.
Welcome to TheJunior Hall of Famers.
This scan is composed of the next 150 largest stocks by market cap, those that come after the top 150 and are thus covered by the Hall of Famers universe. Many of these names will someday graduate and join our original Hall Of Famers list. The idea here is to catch these big trends as early on as possible.
There is no need to overcomplicate things. Market cap is a quality filter at the end of the day. It only grows if price is rising. That's good enough for us.
We just heard from the largest Medical Devices stock in the world, Abbott Laboratories $ABT.
The market loved it...
Price rallied 2.76% with a sweet reaction score of 4.25. It really stood out in yesterday's broad market selloff.
Not only are their current products performing very well, but they also have a very exciting pipeline. Many of which are expected to enter the market soon.
Here's what the CEO, Robert Ford, had to say about it:
"The pipeline continues to provide a steady cadence of new growth opportunities with more than 25 key new products forecasted to launch over the next 3 years, and we remain on track to deliver on the financial commitments we set at the beginning of the year."
That's a lot of new products...
Many of which have the potential to generate billions of dollars.
Here's what Mr. Ford had to say about one of their most exciting pipeline products:
"In Neuromodulation, we began treating patients in our TRANSCEND clinical trial, a...