Jackson Financial, JXN, looks like it has the potential to be a leading stock. There are a few things that have peaked my interest. First, it is a recent IPO that has displayed impressive relative strength during the first part of 2022. In addition, it has insane fundamentals, with two consecutive quarters of triple-digit earnings and sales. It also has produced a strong return on equity.
William O'Neil once remarked, "The number one market leader is not the largest company or the one with the most recognized brand name; it’s the one with the best quarterly and annual earnings growth, return on equity, profit margins, sales growth, and price action.” JXN has many of these traits, including accelerating margins. In addition, earlier this month, Jackson Financial announced they are set to repurchase some of their common stock which is a good sign.
From a technical perspective, JXN looks to be forming an O'Neil style double bottom base. While it is not a perfect match, it somewhat reminds me of PTON in April 2020. I'll be monitoring JXN for a buy in the coming weeks.
Risk right. Sit tight.
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