The Top Stocks I’m watching: Sunday Screener
Market Overview:
We’ve had some distribution days, but it appears the uptrend has resumed.
We’ve had some distribution days, but it appears the uptrend has resumed.
Does that mean it’s all clear? No. But it does mean it’s time to be ready to buy the best stocks in terms of earnings and technical action. So I’ve compiled a list of what I’m watching.
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ELF Beauty: This Cosmetics company just had great earnings and despite the distribution days, just won’t quit. The problem is I’d like to buy on a pullback and it won’t go down. And in this market, I’m not going to chase an extended stock.
So I’m waiting and watching, and looking for an entry.
First Solar: Look at the chart.
Incredible demand for this stock. Huge volume and huge earnings. The problem is it’s extended, as we saw with $ELF.
So again I’m watching and waiting for a proper entry.
Xponential Fitness: $ XPOF $29.30
I’ve mentioned this stock before. It’s a smaller name and not that well known on Wall Street. But it’s got huge earnings and lots of potential.
Still close enough near its breakout that I would consider owning it here with a tight stop. Big earnings and massive buying is very attractive.
Iridium: $ 62.57. $ IRDM
Been watching this stock since it had earnings. It had an earnings gap and then the market rolled over. But, now that we have resumed an uptrend, this stock could be ready to run. I’m looking to initiate a position here with a tight stop.
Conclusion: We could be entering a new Bull market. And there will be more stocks breaking out. The biggest gains in the Bull Market come from new stocks just emerging from bases. Of course, we could roll over and rack up more distribution days. So, we will have to watch how the market is acting.
Stay tuned.
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