Few stocks hit 52-week highs amid a big market sell-off to end the week. Two stocks at new highs are industry leaders, allowing their stocks to rise with them.
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CF Industries (CF) broke out of a cup base, hitting the 113.58 buy point, and is in the 5% buy zone to 119.26. The IBD 50 Top 10 and Big Cap 20 stock is at a 52-week high.
The fertilizer and green hydrogen energy maker’s stock has a Relative Strength Rating of 98, meaning in the last 12 months it outperformed 98% of the stocks IBD tracks.
The company is No. 1 in IBD’s Chemicals-Agricultural group. CF Industries passes all the IBD criteria, and holds two perfect 99 scores for Composite Rating and EPS Rating.
CF Industries has shown explosive earnings-per-share growth for the last three quarters, with equally impressive sales growth.
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Mental Health Provider Hits Buy Point
Acadia Healthcare (ACHC) hit an 82.76 buy point of a three-weeks-tight-pattern on the weekly chart of MarketSmith. The stock, however, made a bearish price reversal Friday as the stock market plunged.
Acadia provides psychiatric treatment at 239 locations in the U.S. and Puerto Rico. The company is No. 1 in the Medical-Outpatient/Home Care group.
Analysts are expecting 22% annual earnings per-share growth for 2022 and a more modest 9% in 2023.
The company holds a 96 Relative Strength Rating and a 91 Composite Rating. The stock is 73% owned by funds and more have gotten into it. More than 600 funds owned the stock in June, up from 558 in March.
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