These 21 cheap stocks have strong momentum and can deliver double-digit gains while the market stays stagnant, according to BMO Capital Markets
Market volatility may continue to rise while stocks flounder, according to BMO.Stocks have stayed in an airtight trading range in the last year despite all the mayhem in markets.Here are 21 high-quality yet inexpensive stocks with momentum to buy now.
For the last year, US stocks have been stuck in quicksand. The S&P 500 is down just 1% in the last 12 months and has stayed in a trading range of 3,600 to 4,300 — almost without exception.BMO Capital Markets Bulls or bears hoping for a breakout in one direction or another will both be disappointed, according to BMO Capital Markets. In a recent report, top strategists at the firm told investors to expect more of the same sideways price action for the remainder of 2023.
"We do not see a significant amount of price upside in the coming months as indicated by our 4,300 year-end price target on the S&P 500," wrote Brian Belski, the chief investment strategist at BMO Capital Markets, in the note. Belski continued:"We believe the host of uncertainties investors will be forced to contend with in the current market landscape will likely lead to elevated levels of volatility and a sideways market for the foreseeable future."
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