Those names are all near buy points following recent earnings reports, taking big potential risk off the table in a tricky market. The relative strength lines for these stocks are either near all-time levels or at least trending higher. The RS line, the blue line in the charts provided, offers an easy way to spot leaders or laggards. It tracks a stock’s performance vs. the S&P 500 index.
Shares of the iPhone maker could form a handle of a base within a week. Investors could use a break above this past week’s high as an early entry.
Like the other stocks to watch here, Apple has strong ratings from IBD. Shares have a 96 Composite Rating. Their EPS Rating is 94. The RS line for AAPL stock is right at record highs and has been trending higher for months.
Apple’s most recent quarterly earnings, reported last month, topped expectations following concerns about product shortages. Revenue for iPhones, services and Mac computers increased during the quarter.
Google parent Alphabet’s stock jumped 7.5% to 2865.86. Shares are in a consolidation with a 3019.43 buy point.
Shares of the online search giant were just above their 50-day line after briefly hitting a record high on Wednesday. The stock’s Composite Rating is 95. Its EPS Rating is 96.
The company this month reported fourth-quarter results that beat expectations. Alphabet also announced a 20-for-1 stock split.
Internet search ad sales surpassed estimates during the quarter. But cloud-computing and YouTube ad revenue came up short. The company has difficult year-over-year comparisons to contend with.
Mastercard stock dipped 0.1% last week to 382.20 after surging 7.3% in the prior week. MA stock fell 2% on Friday, dipping back below a 382.60 handle buy point.
The stock, like the other stocks to watch, also has Composite and EPS ratings in the 90s. Its Composite Rating is 90. Its EPS Rating is 91. The stock’s relative strength line has rebounded since the end of November.
Mastercard’s quarterly results, reported late last month, beat expectations, as consumer spending rebounded. The credit-card network provider also said that cross-border spending was “now above pre-pandemic levels.”
UnitedHealth stock fell 1.15% to 483.17 on Friday, but rose 3.7% for the week, as it rebounded from its 50-day and 10-week lines. UNH stock is in a flat base with a 509.33 buy point.
Shares of the nation’s largest health insurer have a 93 Composite Rating and a 94 EPS Rating.
As with the other stocks to watch, UnitedHealth reported fourth-quarter results that beat estimates. It also stuck with its 2022 outlook.
Prudential stock jumped 7.4% last week to 118.34, rebounding from its 50-day and 10-week lines. That includes a 4.4% pop Friday, pushing shares above an old 115.62 buy point from a cup base and a 118.06 alternate entry. The insurance company was within range of a 115.62 buy point.
Prudential earnings beat expectations late on Feb. 3. But Q4 revenue missed.
PRU stock has an 85 Composite Rating, with an 81 EPS Rating.
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