Top Growth Stocks to Watch in March 2019
Though stocks have pulled back a bit in the last couple of days after the S&P 500 hit key resistance, U.S. equity markets are still strongly bullish. The S&P 500 (SPX) is up over 12% year to date (as of the 3/5/2019 market close) – over 18% if you count from the late-December lows. But that’s just the overall large-cap market index. Many stocks have done much better than that. If you’re looking for individual stocks that tend to outperform on a consistent basis during bullish market trends, look no further than growth stocks. Here, we give you the all-new March 2019 edition of our Top Growth Stocks to Watch.
What are Growth Stocks?
Generally, a growth stock is one that tends to grow, or rise in price, substantially more quickly than average. This may be due to a leading technology, unique products/services, a fast-expanding customer base, or some other differentiating factor that strongly attracts investors to the company’s stock.
A stock’s status as a growth stock is typically not static. While a growth stock may be considered as such today, it could easily lose that status next month, next year, or next decade. Growth stock traders therefore need to be nimble. They will want to identify strong, positive trends as early as possible, attempt to ride those trends, and then get out if and when the technicals and/or fundamentals change. Typically, traders of growth stocks seek pullbacks or consolidations, and then upside breakouts.
What are the Top Growth Stocks in March 2019?
We choose our top growth stocks based on the strength of both their technicals and fundamentals. These are stocks that show strong bullish trends on multiple time frames, significant growth in earnings per share (EPS) over time, and exceptional relative strength within their industries, sectors, and the market as a whole.
Here are our new picks for March 2019:
- GTN: Gray Television | Price: $22.59 (as of the 3/5/2019 market close) | Year-to-Date Performance: +53.26% (as of the 3/5/2019 market close)
- ETSY: Etsy | Price: $70.61 (as of the 3/5/2019 market close) | Year-to-Date Performance: +48.43% (as of the 3/5/2019 market close)
- SSP: E.W. Scripps | Price: $22.75 (as of the 3/5/2019 market close) | Year-to-Date Performance: +44.63% (as of the 3/5/2019 market close)
- CHGG: Chegg | Price: $39.48 (as of the 3/5/2019 market close) | Year-to-Date Performance: +38.92% (as of the 3/5/2019 market close)
- CDNS: Cadence Design Systems | Price: $58.87 (as of the 3/5/2019 market close) | Year-to-Date Performance: +35.40% (as of the 3/5/2019 market close)
What Companies are Behind These Growth Stocks?
Gray Television is a small-to-mid-cap company that owns and operates over 100 television stations across the U.S., based primarily in small- and medium-sized markets.
Etsy is a mid-cap company that features an online e-commerce market of handmade crafts and unique factory-manufactured items sold by member sellers through virtual storefronts.
E.W. Scripps is a small-cap media company that has a long history of operating daily newspapers. In recent years, the company has expanded aggressively into local and national television broadcasting and online media.
Chegg is a mid-cap education company offering online textbook rentals (print/digital), as well as online tutoring, homework assistance, and help with scholarships and internships.
Cadence Design Systems is a large-cap company that provides electronic design automation (EDA) software and engineering services. Cadence produces software and hardware for designing integrated circuits, systems on chips, and printed circuit boards.
IMPORTANT: The information above should not be construed as investment advice and should not be considered as a solicitation to buy or sell securities. Past performance is not indicative of future results. Trading and investing in the financial markets involves substantial risk of loss, and may not be suitable for all investors.
Disclosure: At the time of this article’s publication, we have no position in any security or trade/investment mentioned, nor do we have any business relationship with any company whose stock may be mentioned.
Senior Technical Analyst at The Technicals
As a momentum stock trader, Luke focuses mostly on strong market moves. Luke has been trading the markets since the early 2000s, but still gets excited by big movers. Whether a surging large-cap tech company or meteoric penny stock, Luke tracks and trades winners. A technical analysis purist, Luke authors many of our Top Stocks & ETFs reports. Contact Luke