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Leading Stocks To Watch This Week
July 15 2019 - CyberArk, Twitter, Salesforce Lead 5 Top Stocks Near Buy Points By Investors Business Daily
With the stock market at record highs and more leaders breaking out, CyberArk stock, Twitter stock, Salesforce.com stock, Match stock and Autodesk stock are setting up near buy points. All five are in areas of stock market strength. These top stocks also have reclaimed key support levels recently in their current bases.
CyberArk Software (CYBR) has a best-possible IBD Composite Rating of 99. Salesforce.com (CRM) has a 97 Composite Rating. Match Group (MTCH) and Autodesk (ADSK) boast a 94 CR, with Twitter (TWTR) at 93.
All five stocks have moved above their 50-day moving averages. The 50-day line is a key area of technical support. Mutual funds and other big institutions also will buy shares around this key level.
All five have peers and rivals acting bullishly. Investors should look for top stock in leading groups. CyberArk is part of the hot cybersecurity group, while CyberArk Software, Salesforce stock and Autodesk are all part of the broader, market-leading software sector. While Twitter stock sets up, Facebook (FB) has broken out while Snap (SNAP) is extended at a 15-month high. Match stock, which is in the same Internet-content group as Twitter, could be seen as a social or software platform.
CyberArk rose 1.3% to 133.38 on Friday after reclaiming its 50-day moving average earlier in the week. Thursday's IBD Stock Of The Day is working on a 138.83 flat-base buy point. CyberArk hadn't formed a base since breaking out in late January.
Zscaler (ZS) and recent IPO CrowdStrike (CRWD) are two other cybersecurity names highlighted as Stock Of The Day over the past week or so. Zscaler stock, also the latest New America company, is in buy range. CrowdStrike is working on a buy point ahead of earnings next week.
Twitter climbed 1.7% to 37.84 Friday, continuing to find support at its 50-day after reclaiming that level on Tuesday. Shares are working on a 41.02 buy point from a cup-with-handle base going back to June 2018. The base is 45% deep, which is not great, though the handle is long enough to be its own pattern. Twitter stock is on the IBD 50 list.
Salesforce fell 0.5% to 158.08, after reclaiming its 50-day line Wednesday. Shares of the business software giant are working on an odd, short cup-with-handle buy point of 163.09. That follows a pair of failed or short-lived breakouts for Salesforce stock. The relative strength line for Salesforce has been declining for several months. The RS line tracks a stock's performance vs. the S&P 500 index.
Match edged up 1.1% to 73.03 Friday. Shares are working on a 75.38 buy point in a flat base. A few weeks ago Match found support at its 50-day line. Match Group is the operator of Match.com and Tinder app. Match stock is on IBD Leaderboard.
Autodesk rose 0.5% to 174.19 Friday. Shares are moving toward a 179.05 flat-base entry. The design software maker reclaimed its 50-day line last week. Keep in mind that Autodesk sold off sharply after the last two earnings reports. Autodesk stock is highlighted in depth in the latest IBD Stock Analysis.
From CyberArk to Twitter, these five stocks are setting up, but none of them have cleared a buy point. Don't jump the gun and buy a stock, even one that looks promising, until it enters a proper buy zone.
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