Discover 3 stocks with definitive 'Buy the Dip' potential

Published: March 19 2023, 07:20 GMT+0

Discover 3 stocks with definitive 'Buy the Dip' potential

Oak Street Health, Inc., Gold Fields Limited, Wheaton Precious Metals Corp. are the ones to notice as they lead stocks on an uptrend.

Leading equity indices in the US declined as Dow Jones slipped 1.19% and closed at 31,862. S&P 500 lost 1.1% and ended the session at 3,916.64.

What is an uptrend?

An uptrend describes the price movement of a continuously appreciative financial asset over a particular time frame. In an uptrend, each successive peak and trough is higher than the ones found earlier in the trend. The uptrend is therefore composed of higher swing lows and higher swing highs.

Oak Street Health continues a 25 day uptrend; moves 0.25% Friday

After setting a $35.45 – $35.7 range, Oak Street Health, Inc. closed the day broadly flat at $35.64. Oak Street Health moves 0.25% to close at $35.64 Friday. Trading volume totalled 1.61 million which equates to around 32% of the stock's 21-day average Friday.

Gold Fields continues a 5 day uptrend; rallies 6.45% Friday

After setting a $10.93 – $11.69 range, Gold Fields closed the day at $11.55 having risen 6.45%. Gold Fields rallies 6.45% to close at $11.55 Friday. Daily trading volume (16 million shares) was higher than the current multiday average of 5.52 million.

Wheaton Precious Metals Corp continues a 4 day uptrend; jumps 4.43% Friday

Friday's session pointed in the same direction — Wheaton Precious Metals Corp rose $1.92 to close at $45.3 Friday which makes for a move of 4.43%. After setting a $43.63 – $45.73 range, Wheaton Precious Metals Corp closed the day at $45.3 having risen 4.43%. Daily trading volume (6.84 million shares) increased, making up 279% of the 21-day average (2.45 million).

Wheaton Precious Metals Corp is currently trading with a market cap of $20.49 billion with an average daily trading volume of 2.45 million shares. The mining company is now trading 49.17% above the significant low ($29.08) it slumped to 5 months ago. So far this year, it has been doing worse than the Nasdaq by 0.2%. Wheaton Precious Metals Corp has a forecast of $250.66 million with an EPS of 24 cents.