Despite an uptrend under pressure, these five top stocks — all IBD Sector Leaders — are handily outperforming the general market. Each of them has a relative strength line that is holding up strongly and near new highs in the stock market today.
FANG stock Facebook (FB) quietly pulled back into the 5% buy range from a cup with handle’s 188.42 buy point over the past week. Shares moved back out of buy range Thursday with a 3% advance. Analyst firm BTIG raised its price target on the social media giant from 175 to 275 — a 36% increase. Shares added 2% Friday.
Recent weakness in the stock was caused by continuing probes into Facebook and CEO Mark Zuckerberg over the Cambridge Analytica scandal.
Salesforce.com (CRM) also briefly dipped back into buy range last week before rebounding nicely. The software stock is about 10% above a 128.97 flat-base entry. Salesforce is the No. 1-ranked stock in the Computer Software-Enterprise group with a highest-possible 99 IBD Composite Rating. The rating is a blend of key fundamental and technical metrics.
IBD Leaderboard stock Five Below (FIVE) has been stingy about giving up big gains since a nearly 22% earnings-related surge June 7. Shares are about 25% above a flat base’s 78.38 buy point.
The stock may be in the process of creating a new add-on point, but that would require a bit more time. It is currently in week four of a potential formation; the minimum length of a flat base is five weeks. For now, the stock is well extended.
These 2 Top Stocks Are Rebounding From The 50-Day Line
Leading health savings account provider HealthEquity (HQY) successfully tested its 50-day moving average line last week and is now about 5% above that level. The 50-day line is a key support level.
The recent retreat came after the stock hit the 20%-25% profit-taking level from a 68.85 flat-base entry.
Palo Alto Networks (PANW) continues to hold up well amid two recent tests of the 50-day line and is just 3% off its highs.
The stock is over 30% above a 156.95 cup-shaped base entry.
