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Top Stocks To Watch and Possibly Buy This Week
August 12 2019 - Microsoft, Twitter, Lululemon Are In Buy Zones Amid Stock Market Correction By Investors Business Daily
Amid a stock market correction, staying in cash is often the best strategy. But with a stock market rally attempt underway, investors should be working on their watchlists. Microsoft stock, Twitter stock, Lululemon stock, MercadoLibre stock and HubSpot stock are all highly rated companies that are in or near buy zones.
Top Stocks To Watch
Microsoft (MSFT), Twitter (TWTR) Lululemon Athletica (LULU) and MercadoLibre (MELI) are all in buy zones. HubSpot (HUBS) just dipped back below a flat-base entry Friday after soaring in the prior two days.
Stocks that demonstrate resilience during a market correction can emerge as leaders when the storm clears, IBD's research shows.
Microsoft stock fell 0.85% to 137.71 in Friday's stock market trading, just within range of a flat base buy point 131.47 first cleared in June. Shares of the software giant cut below its 50-day line on Monday as the stock market correction took hold. But it has since reclaimed support at that key level.
The relative strength line for MSFT stock has been hitting record highs, continuing a long, gradual uptrend. The RS line, the blue line in the charts below, tracks a stock's performance vs. the S & P 500 index.
Microsoft stock has a strong 98 IBD Composite Rating and a nearly-as-strong 94 EPS Rating, according to MarketSmith.
Microsoft fiscal fourth quarter earnings per share beat estimates in the June quarter, with sales that were largely in line. Commercial cloud-service revenue jumped 39%.
Twitter stock sank 1.3% to 41.53, still above a 41.02 buy point of a cup-with-handle base. The social-media platform has best-possible 99 Composite and EPS ratings. After sagging through the spring, Twitter's relative strength line has also rebounded.
That rebound came late last month, after Twitter reported strong second-quarter revenue and user growth. The stock broke out, pulling its relative strength line higher.
Lululemon stock was also within range of a 179.60 buy point of a flat base. Shares of the yogawear maker slipped 1.9% to 182.82% on Friday, holding support at their 50-day line.
The RS line for Lululemon stock has risen at a glacial pace for since the end of August 2018. That signals modest outperformance vs. the S & P 500 index, but no longer a huge winner.
Lululemon stock has a Composite Rating of 96 and an EPS Rating of 95. Lululemon has expanded its membership program, plans to sell more men's clothing and broaden its international business. The company also has plans to enter the athletic shoe business.
Lululemon earnings beat forecasts for the latest quarter. But the company's sales and profit outlook came in below estimates.
HubSpot stock broke out of a flat base with a 192.59 buy point on Thursday, capping a two-day, 19% post-earnings surge. The RS line moved to new highs as well. But the web marketing software fell 2.3% to 191.67 on Friday, dipping below that entry.
HubSpot stock has a 96 Composite Rating. But its EPS Rating, at 78, is weaker, due to a lack of a three-year growth rate. But HubSpot earnings growth has been in the triple digits for six straight quarters.
HubSpot earnings beat estimates for the second quarter last week. this week. William Blair analyst Bhavan Suri said the company had around 25,000 "multi-product customers," a roughly 80% jump from a year ago.
MercadoLibre rounds out the top stocks to watch this week. MercadoLibre broke out from a short consolidation on Thursday after second-quarter results topped estimates. Shares of the Latin American online retailer rose 0.3% to 690.10 on Friday, after spiking 12% on Thursday. The buy point is 672.65.
Its relative strength line jumped as well, and has generally been trending higher since Christmas The stock has a 96 Composite Rating and a 77 EPS Rating.
MercadoLibre is profitable once again, while revenue growth has accelerated for the past four quarters.
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