ServiceNow (NOW), Snowflake (NKE), Tesla (TSLA), JD.com (JD) and PayPal (PYPL) have all made the IBD Leaderboard list of stocks to watch. After finding support as it bases, Apple (AAPL) is looking to officially join the group.
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In addition to Apple stock making the Leaderboard Watchlist and NOW, NKE and PYPL earning a spot on the list of Leaders Near A Buy Point, other stocks to watch on the Leaders list include, among others, Microsoft (MSFT), Chipotle Mexican Grill (CMG) and Snowflake stock.
Along with fellow Leaderboard stock Pinduoduo (PDD), Snowflake has emerged as one of the top IPO stocks to watch. Its September IPO raised $3.4 billion, the most ever by a software company. SNOW stock is testing its strength Monday after breaking out on Nov. 25. Snowflake reports fiscal 2021 Q3 earnings on Wednesday after the market close.
Identify Bases And Buy Points In Top Stocks With IBD Leaderboard
Stocks To Watch Led By Tech, Software, E-Commerce
As the major indexes test support and resistance, tech stocks, software plays and leading e-commerce and retail stocks are doing the same.
Retailers on Leaderboard include Chipotle Mexican Grill, Target (TGT) and Chinese stocks JD.com and Pinduoduo. CMG and JD.com are both testing support at their 50-day moving averages. Chipotle is working on a double bottom, while JD stock is trying to retake the buy point it initially cleared on Nov. 4.
Pinduoduo, which is China’s largest social e-commerce platform, also broke out on Nov. 4. PDD stock has managed to hold the bulk of it big post-breakout gains.
Leading tech stock Nvidia (NVDA) is also trying to overcome resistance at its 50-day line. Meanwhile, Tesla stock and PayPal have already found support and are looking to further their runs.
On the software side, cloud stocks to watch Microsoft and Adobe (ADBE) are shining a light on the concept of floors of support and ceilings of resistance. Joining ADBE and MSFT, as well as PYPL, on IBD Long-Term Leaders, NOW stock has continued to find support since retaking its 10-week line in April.
Snowflake stock is extended past the 301.10 buy point it cleared on Nov. 25. The eyes of investors now focus on the company’s earnings report on Dec. 2.
Last, but certainly not least, Apple stock is finding support at its 50-day line. AAPL is aiming at a 138.08 entry. A breakout would mark an all-time high for Apple.
Follow Matthew Galgani on Twitter at @IBD_MGalgani.
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