Translate

Search This Blog

Search Tool




Aug 23, 2018

IBD 50 Stocks Showing Momentum


JC Parets


Last month, we added the Investors Business Daily 50 List to our chart coverage. This list combined relative strength and strong fundamentals to highlight 50 of the best stocks in the market. Today, I updated the Chartbook for members, so I wanted to highlight some of the best names I'm seeing on this list across several sectors of the market.
First, let's start off with a daily chart of the Innovation IBD 50 ETF (FFTY). Prices have been in a strong uptrend and look to be continuing higher after a failed breakdown below $35.15 and a test of the 200-day moving average (if you're into that sort of thing). Momentum remains in a bullish range, so if prices are above $35.15, our upside objective continues to be $40.75.
Technical chart showing the performance of the Innovation IBD 50 ETF (FFTY)
CyberArk Software Ltd. (CYBR) is breaking out of a multi-year base to confirm the start of a new structural uptrend. If prices are above $70, we want to be long with an upside objective of $94.30. (See also: 8 Stocks for the Cybersecurity Boom: Goldman.)
Technical chart showing the performance of CyberArk Software Ltd. (CYBR) stock
Encompass Health Corporation (EHC) is another name that continues to work on the long side after a big breakout about a year ago. If prices are above $77.40, we want to be buying weakness, with an upside target of $106.50.
Technical chart showing the performance of
Palo Alto Networks, Inc. (PANW) has been consolidating above its 2015 highs. If prices are above $200.30, we can be long with an upside objective of $257.70. If prices do make new highs, we want to see that confirmed by momentum breaking back into overbought territory as well.
Technical chart showing the performance of Palo Alto Networks, Inc. (PANW) stock
[If you'd like to learn more about recognizing profitable trading opportunities, check out my Technical Analysis course on the Investopedia Academy, where I include interactive content and real-world examples to help you boost your trading skills.]
Viper Energy Partners LP (VNOM) just recently broke out of a four-year base, clearing its post-IPO highs. While a pause at these levels would be healthy, if the stock price is above $35.50, the bias remains to the upside, with a target of $52.80.
Technical chart showing the performance of Viper Energy Partners LP (VNOM) stock
World Wresting Entertainment, Inc. (WWE) has been consolidating above our previous price target of $79.45 and looks to be continuing higher. If prices are above that level, we want to be long with an upside target of $119.80.
Technical chart showing the performance of World Wresting Entertainment, Inc. (WWE) stock
If you enjoyed this post and want a full list of IBD 50 stocks we want to be buying, consider joining the All Star Charts community by starting a 30-day risk-free trial or signing up for our "Free Chart of the Week".
Thanks for reading, and let us know if you have any questions!
Related Articles
  1. Trading

    Financial Stocks Showing Relative Strength

    A number of stocks could offer a way to play the potential sector rotation back into financials.
  2. Trading

    Regional Banks, REITs and Interest Rates

    The relative performance of regional banks vs. REITs reveals how equity market participants are thinking about future bond market trends.
  3. Trading

    The Most Important Trends in the U.S. Stock Market Now

    Microcap stocks are showing the most underlying strength of any U.S. sector right now and appear poised to make higher highs. JC Parets of All Star Charts shows the key trends to watch.
  4. Trading

    Crude Oil Has 20% Upside Potential in Rupees

    After pulling back to support levels, crude oil prices in rupees could be poised for 20% gains.
  5. Trading

    Breakout Stocks on the Radar (GILD, MMM)

    If these stocks break above short-term resistance they have room to run.
  6. Trading

    Analyzing India's Public Sector Banks

    Despite the short-term bottom, the charts suggest a strategy of fading strength in Indian public sector banks rather than buying weakness.
  7. Trading

    Assessing the Trend in Chip Stocks

    The charts suggest that recent consolidation in the Semiconductor Index constitutes a healthy pause in a continued structural uptrend.
  8. Trading

    Large-Cap Healthcare Coming Back to Life?

    Large-cap healthcare stocks could be poised to reverse their underperformance versus small-cap counterparts and the broader market.
  9. Trading

    Global Market ETFs Entering New Up Swings

    The markets of China, India and South Africa could all be entering the next move to the upside. Here are the ETFs to consider trading.
  10. Trading

    Global ETF Carnage Continues

    Dollar strength has negatively affected ETFs that track international markets. Is there a bottom in sight for Global ETFs?