Stocks To Watch: This 2017 IPO May Design New Breakout Run

This is source I found from another site, main source you can find in last paragraph

When it comes to leading retailers, Wall Street's attention is often focused on

Amazon.com ( AMZN ),

Alibaba ( BABA ) and

Wal-Mart ( WMT ), but here's another retail stock to watch: 2017 IPO

Floor & Decor ( FND ).

[ibd-display-video id=2385970 width=50 float=left autostart=true] Founded in 2000 and headquartered in Georgia, Floor & Decor is a specialty retailer selling hard surface flooring and related accessories.

While Wal-Mart is up around 18% from its Oct. 10 breakout and Amazon is trading 8% above the 1,083.41 buy point it cleared on Oct. 27, Alibaba fell back below the 177.10 entry it broke past on Sept. 13. But Alibaba has now rebounded into the old buy zone and was up just under 1% Monday.

Meanwhile, Floor & Decor, which has already earned a spot on the IBD 50 list of top growth stocks , is working on its longest base since going public on April 27.

No. 1 Stock In Industry

With a 98 Composite Rating, Floor & Decor is tied with

Central Garden & Pet ( CENTA ) for the No. 1 spot among its peers in the Retail/Wholesale-Building Products industry group.

The company sports strong three-year annual growth rates for both earnings (83%) and revenue (34%). Institutional demand for shares is reflected in the stock's A- Accumulation/Distribution Rating, a 1.9 up/down volume ratio and two quarters of rising fund ownership.

Laying Foundation For New Breakout?

Floor & Decor rose quickly following its market debut, then formed and broke out of a few IPO bases, the most recent on June 19. But the stock soon pulled back to begin forming its current cup-shaped pattern.

Alibaba's post-IPO action in 2014 followed a somewhat similar pattern, with the Chinese e-commerce giant making a 20% run from its IPO base. But Alibaba then fell into a multiyear slump before launching a big new move earlier this year. It's a good reminder of how new IPO stocks can be quite volatile.

As of Friday's close, Floor & Decor had closed higher in 10 of the past 11 trading sessions, ending last week 5% below a 47.09 buy point, Its relative strength line has been rising sharply higher.

Note that while forming the 24-week long base, the company has had two secondary public offerings, including one that closed on Nov. 20 for 7,475,000 shares at 36 per share.

On Monday, Floor & Decor fell just over 1%,  leaving it 6% below the entry.

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This is source I found from another site, main source you can find in last paragraph

Source : http://www.nasdaq.com/article/stocks-to-watch-this-2017-ipo-may-design-new-breakout-run-cm887892

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