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23/03/2021 14:38 in News

Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist? Google parent Alphabet (GOOGL),  TESLA), AMAZON and Applied Materials (AMAT) are prime candidates.

 

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Best Stocks To Buy: The Crucial Ingredients

Remember, there are thousands of stocks trading on the NYSE and Nasdaq. But you want to find the very best stocks right now to generate massive gains.

keep an eye on supply and demand for the stock itself, focus on leading stocks in top industry groups, and aim for stocks with strong institutional support.

Once you have found a stock that fits the criteria, it is then time to turn to stock charts to plot a good entry point. You should wait for a stock to form a base, and then buy once it reaches a buy point, ideally in heavy volume. In many cases, a stock reaches a proper buy point when it breaks above the original high on the left side of the base. 

 

Tesla Stock

Tesla stock surged more than 6% before cutting gains to 2.3% Monday after Cathie Wood's Ark Invest announced its new price target at 3,000 by 2025. The price target uses expectations that the electric-vehicle giant will launch an autonomous robotaxi service built upon its full self-driving tech platform. It could bring in as much as $327 billion in revenue, according to Ark research. The bull-case price target is 4,000, while the bear-case 2025 price target is 1,500.

Google Stock

Google parent Alphabet is near a buy point of 2,145.24, as a three-weeks-tight has evolved into a flat base, according to MarketSmith chart analysis. The entry is just above the mid-February all-time high.

Google stock has been trading around its 21-day exponential moving average and is just above its 10-week line.

The relative strength line for GOOGL stock is near a record high. This gauges a stock's performance compared to the S&P 500. If Alphabet's RS line spikes again, it will be a sign the stock is ready to push higher still.

 

 

Applied Materials Stock 

Chip equipment stock Applied Materials is in a short consolidation with a 124.60 buy point. AMAT stock needs another week for its current consolidation to qualify as a proper flat base

It recently bounced of its 10-week line, which is a bullish indicator. Applied Materials stock has been finding support at its 21-day line for several sessions. A move above last week's high of 121.17 would qualify as an early entry.

The RS line is taking a breather, but is looking bullish overall. It has been generally making progress since mid-September.

AMAT stock has a perfect Composite Rating of 99. While stock market performance is impressive, earnings are even better.

Applied Materials is planning to host its investor day April 6

 

 

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