Over the past few weeks, there have been an increasing number of stocks and ETFs that have broken out or are close to breaking out of their respective technical bases. The technical indicators such as relative strength vs SPX, MACD momentum, and SCTR are also showing strong technical credentials suggesting leadership roles within their industries/sectors. Also, each of the stocks listed below is not technically extended above their key support levels suggesting reasonable risk/reward potentials in today’s market environment. Most of these companies are structural growth names or are in emerging areas that will play influential roles in their industries.
The stocks and ETFs are listed below in alphabetical order:
AMZN, APPN, BOTZ, CDNS, CHGG, CMG, DG, EBAY, ECL, FAST, FB, FDN, FTNT, GDX, HD, IBB, IDXX, LULU, NFLX, NOW, NVDA, PTON, ROBO, ROK, RP, SMG, SNPS, TTWO, SWCH, WORK, and XBI.
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