DHT Holding’s (DHT) shares jumped 37% in 2023. The energy company could be poised for more upside after large accumulation signals were spotted.
So, what’s Big Money? Said simply, that’s when a stock goes up in price alongside chunky volumes. It’s indicative of institutions betting on the shares.
Smart money managers are always looking for the next hot stock. And DHT has many fundamental qualities that are attractive.
This sets up well for the stock going forward. But how the shares have been trading points to more upside. As I’ll show you, the Big Money has been consistent in the shares.
Each green bar signals big trading volumes as the stock ramped in price:
Since November, the shares attracted 6 unusual buy signals. Demand for the stock has been high. Those repeated green bars could mean more upside is ahead.
Now, let’s check out the fundamental action grabbing my attention:
Next, it’s a good idea to check under the hood. Meaning, I want to make sure the fundamental story is strong too. As you can see, DHT has been growing sales and EPS at a healthy clip. Take a look:
Source: FactSet
Marrying great fundamentals with technically superior stocks is a winning recipe over the long-term.
In fact, DHT has been a top-rated stock at my research firm, MAPsignals recently. That means the stock has buy pressure, strong technicals, and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.
Let’s wrap up.
The DHT Holdings rally could have further to go. Big Money buying in the shares is signaling to take notice. Shares could be positioned for further upside.
Disclosure: the author holds no positions in DHT at the time of publication.
Learn more about the MAPsignals process here.
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Lucas is a well-versed equity investor and educator. He currently is co-founder of research and analytics firm, MAPsignals.com, which focuses on finding outlier stocks by following the Big Money.