The action in the ICTOP10 listing the holiday shortened week shifted from Main Market stocks to the Junior Market, with four stocks putting in double digit increases, led by Elite Diagnostic, last week’s 14 percent decliner to rally this week by a stunning 43 percent to close at $3.67 after hitting a high in the past week of $4.23.
But Elite is not the only Junior Market stock posting solid gains. Jetcon rose 18 percent to close at $1.30, against a background of one or more investors seeking to buy a sizable number of shares. AMG Packaging and Caribbean Assurance Brokers climbed 16 percent while tTech added 7 percent to close the week at $4. Price movements in Main Market were more subdued than in the Junior Market, with JMMB Group the biggest mover dropping 11 percent from $51.89 to $46.25, followed by Guardian Holdings with a fall of 4 percent.
General Accident returned to the Junior Market TOP10 as tTech dropped out and VM Investments returns to the Top10 Main Market as Jamaica Stock Exchange fell out.
The average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 14.7, while the Junior Market PE for the Top 10 is at 5.9 versus the market at 13.2. The Junior Market TOP10 is projected to gain an average of 289 percent to May 2023 and the Main Market 192 percent.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. 
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
