Investing in stocks might be difficult, but you can make better market decisions if you have a good plan. Here is a brief analysis of five stocks that you should add to your watchlist:
- Netflix (NFLX) Current Position: In a buy zone above a cup-base entry of 697.49. Performance: Strong earnings growth averaging 597% over the past three quarters; EPS projected to rise 59% in 2024. Strengths: Institutional support is growing, and the company is expanding into live events, which could attract more advertisers.
- Meta Platforms (META) Current Position: Cleared a consolidation with a buy point of 542.81; also shows a three-weeks-tight pattern. Performance: EPS growth has averaged 114% recently; expected to rise 37% in 2024. Strengths: Strong backing from funds and a significant focus on AI, positioning it well for future growth.
- Freshpet (FRPT) Current Position: In a buy zone above a consolidation buy point of 136.35. Performance: Stock is up over 64% in 2024; expected to swing from a loss to a profit in 2024. Strengths: Positioned well in the packaged food industry with a unique product focus on fresh pet food.
- Broadcom (AVGO) Current Position: Near aggressive entry points; looking to break above a consolidation-pattern entry of 185.16. Performance: Strong earnings and significant growth this year; EPS rating of 93. Strengths: A leader in semiconductor technology, particularly in AI-related products, making it a solid alternative to overvalued competitors.
- Shift4 (FOUR) Current Position: Actionable above a cup-with-handle entry of 83.64. Performance: EPS growth expected at 32% this year; strong institutional ownership. Strengths: Significant expansion into various industries including sports and hospitality, coupled with recent acquisitions to enhance growth. Key Considerations Market Trends: Monitor the overall market direction; invest during uptrends and be ready to move to cash during corrections. Sell Signals: Be disciplined about selling stocks that fall 7-8% from your purchase price. Technical Analysis: Use stock charts to identify entry points and confirm trends. Conclusion These stocks demonstrate strong growth potential and institutional backing, making them compelling options to consider for both immediate investment and long-term growth. Always conduct thorough research and consider your investment strategy before making any decisions.