4 Stocks Poised for a Major Rally in the Next 12 Months
August has a history of being a somewhat quiet month in the financial world.
When it comes to the S&P 500's performance in August from 1950 to 2021, it has shown an average return of -0.03%. This places it as the third worst month, surpassing only February and September in terms of poor performance.
As for the Dow Jones Industrial Average, in the last 20 years, August has seen a modest return of +0.07%. However, if we zoom out to the last 50 years, the return drops to -0.20%, but over the last 100 years, it bounces back to a positive +0.97%.
Right now, it's clear that 2023 is shaping up to be a promising year for equities overall. In the United States, both the S&P 500 and the Nasdaq are leading the way.
Meanwhile in Asia, the Japanese Nikkei is the only one keeping pace with the U.S. stock market. In Europe, most stock markets are performing well except for the British FTSE 100
The German DAX hit record highs this week, and the Italian FTSE MIB has shown impressive strength.
With many stocks experiencing attractive gains in this environment, it's worth exploring those with good 12-month potential and solid support from the market.
So, let's dive into some of these promising stocks using the InvestingPro tool for our analysis.
Enphase Energy (NASDAQ:ENPH), with its headquarters in Fremont, California, specializes in designing and manufacturing software-driven home solutions that encompass solar generation and home energy storage.
On July 27, the company released earnings, and the news was impressive. Enphase Energy far surpassed market expectations, particularly in terms of earnings per share.
Enphase Energy is gearing up to present its next earnings on October 24. The company is anticipated to showcase a notable
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