The 5 Best Stocks to Buy and Watch Now

Buying a stock is easy, but buying the proper one without a strategy is nearly impossible. What are the greatest stocks to purchase or watch? AMD, SharkNinja, Lennar, On Holding, and Weatherford are hot prospects

Last year, investors fretted about inflation and Fed rate hikes. Despite forecasts, the market performed well in 2023. There is growing confidence the Fed will achieve a soft landing in 2024, notwithstanding weak improvements. However, the Russian invasion of Ukraine and Israel-Hamas war continue to cloud markets.

Remember, NYSE and Nasdaq trade thousands of equities. You want to locate the greatest stocks today to make huge returns. CAN SLIM provides clear guidance regarding what to search for. Buy stocks with 25% quarterly and yearly profits growth. Find firms with innovative goods and services. Consider unprofitable firms, frequently recent IPOs, that are growing rapidly.

CAN SLIM consistently outperforms the S&P 500. Outperforming this industry benchmark is important to long-term success. In addition, monitor stock supply and demand, target leading companies in top industry categories, and seek stocks with strong institutional backing.

After finding a stock that meets the requirements, use stock charts to find an entry point. After a stock forms a base, purchase in big volume at a buy point. Breaking above the left edge of the base is often a good buy signal for a stock. Learn more about bases and how charts may help you win big on the stock market here.

Market (M) is crucial to CAN SLIM. Even the finest stocks follow the market. Invest during a verified rise and cash out after a correction. The stock market made huge gains in 2023 and will aim to capitalize on them. The Nasdaq and S&P 500 are above their 50-day moving averages. S&P 500 achieved record high for first time in two years.

After several distribution days, the stock market is again on an upswing. Now is a fantastic moment for stock purchasing. Follow-up chances are a wonderful opportunity to add to holdings. IBD recommends 60%–80% market exposure.

Investors should choose excellent stocks. Choose from the top stocks to purchase or watch today. The IBD 50 is a good hunting field. Despite the market's established upswing, sell indications must be monitored. Drop any stock that falls 7% or 8% from your purchase price. Avoid severe breaks below the 50-day or 10-week moving average.

Top stocks to buy or watch: AMD, SharkNinja, Lennar, Weatherford

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