3 Attractive Shorted Stocks to Buy


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The market has spoken, the bull is back. And price action isn’t just for indicators either. This also happens in some of the best-selling stocks in the market. And there should be more to come, as we’ll see below.

Two years after a historic low in the bear market caused by Covid, investors have been scrambling to take long positions over the past week. And for good reason. We are in another confirmed bullish leg of the Roaring ’20s redux of this decade.

The reversal came on the heels of a broad-based bullish tracking day in the S&P500 last Wednesday. The index should now end higher for a second consecutive week.

The usual large-cap suspects are doing their part to foster the buying frenzy. But the optimistic rallying cry didn’t stop there.

The market’s most notorious best-selling stocks also participated. Nicholas (NASDAQ:NKLA) and Sundial producers (NASDAQ:SNDL) are among the big names of the week. But the three I’m looking at more closely are:

  • flashing charging (NASDAQ:BLNK)
  • Beyond meat (NASDAQ:BYND)
  • The 5 great sporting goods (NASDAQ:BGFV)

Shortest Stock to Buy: Blink Charging (BLNK)

Source: Charts from TradingView

The first of our shortest stocks to buy is Blink Charging.

Blink Charging, one of the leading electric vehicle charging games on the market, has a short-term interest of around 35%.

This heavily shorted stock has also been a consistent bear favorite over the past year. And despite brief bouts of bullish volatility, some of those bears have paid off handsomely.

While shares are up more than 30% since their low in early February, BLNK shares remain down around 60% since their high in January 2021.

Right now, even ignoring the growing secular trend toward renewable energy and electric vehicles, the BLNK stock price chart is well positioned for a longer-term bull cycle.

Technically, the March monthly candle has bullishly confirmed the February inner low pattern.

Coupled with an oversized 10-day hedge ratio, deeper Fibonacci levels supporting a significant bear market bottom, and an oversold bullish crossover in the stochastic indicator for this shortest stock, BLNK looks fully charged for the upside. .

Beyond Meat (BYND)

Source: Charts from TradingView

The next of our best-selling stocks is Beyond Meat.

BYND’s stock is one of the leading fake meat games in the market, and its importance in this niche cannot be denied. It’s also true that Beyond Meat’s products are essential to the longevity of the planet, given the amount of resources needed to farm it.

Despite this, Beyond Meat is one of the best-selling stocks in the market with a roughly 38% bearish population sinking into the stock.

BYND also maintains a fairly high days-to-cover statistic north of five trading sessions.

Very similar to Blink Charging, BYND stock has proven to be a more sustainable and delicious meal for bears. Since peaking in January 2021, this shortest stock is down around 77%. About 15 months later, the easier pickings for bears are gone. Equities are also ripe for the dip.

Today, stocks are settling into a bullish doji that can complete a lifetime triple bottom pattern.

And ultimately, combined with a monthly stochastic hinting at a BYND bear market conclusion, this shortest action looks like a tasty opportunity for buyers.

Big 5 Sporting Goods (BGFV)

Source: Charts from TradingView

The last of our top shorted stocks is Big 5 Sporting Goods.

Shares of this major athletics retailer have been in a game where the bulls fumbled in the fourth quarter and continued to lose ground in 2022.

To be fair, the playing field isn’t what it used to be for physical operators like BGFV. This was true before the pandemic and it is also a certain reality on the other side of Covid.

And this week, the Big 5 updated its first-quarter earnings forecast. The new figure is below expectations.

The good news for bulls is that this stock also remains profitable and has shown its commitment to shareholders with a well-sustained dividend of 5.8%.

Now, BGFV stock also offers the opportunity to buy an attractive monthly inverted hammer pattern that finds support from earlier highs in 2005 and 2013.

With bears needing eight days to pass exits to close positions, this shortest stock could be set for a terrific second quarter for bullish buyers.

As of the date of publication, Chris Tyler had (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.

The post 3 Shortest Attractive Stocks To Buy appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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