Do not get excited by the market hopping; 7 stocks near buying points

Dow Jones futures soared overnight with S&P 500 futures and Nasdaq futures. The stock market rally rebounded on Wednesday, but was lower than the previous session. Key indices fall during the week and are sharp in April.


FTNT stock, Marriott International (MAR), Raymond James Fund (RJF), Merck (MRK) and Ulta beauty (ULTA) Five non-material plays to watch. Fortinet (FTNT), Marriott and RJF stocks work on handles around aggression inputs. Merck stock may create a handle, while ULTA stock may cross a buying point.

In megacopes, Apple (AAPL) and Tesla stocks are trying to rise within the handles.

Key revenue

United Health (UNH) Open Pre-Reports, Health Insurance Kicks Income. The UNH stock has been slightly extended from the buying area along with the competitor Anthem (ANTM). Hundreds (CNC) and Molina Health (MOH) are in the purchasing zones.

Goldman socks (GS), Wells Fargo (WFC) and Citigroup (C) Report beginning Thursday. All three changed little after Wednesday JPMorgan Chase (JPM) announced mixed Q1 results.

Tesla (TSLA) and ANTM shares are on the IBD Leaderboard. The role of FTNT lies in the long-term leadership of IBD. Shares of Tesla and Fortinet are in the IPD50. Raymond James Financial was added to Wednesday’s IPD Stock of the Day and Swing Trader.

The video embedded in this article discusses and analyzes the market rally on Wednesday Lulu Lemon Athletica (LULU), Raymond James and MAR stock.

Join IBD Experts when researching stocks that may operate on the stock market rally at IBD Live

Dow Jones Futures Today

Dow Jones Futures rose a reasonable value against 0.1%. The S&P 500 futures were up and the Nasdaq 100 futures were up 0.2%.

Keep in mind that overnight action on Dow Futures and elsewhere does not necessarily translate into real trading at the next regular stock market session.

Stock market rally

The stock market rally started on Wednesday, changed slightly but improved steadily throughout the session.

The Dow Jones Industrial Average rose 1% in early trade on Wednesday. The S&P 500 index was up 1.1%. Nasdaq compound rose 2%. Small-cap Russell 2000 rose 1.9%.

The Manufacturer Price Index (WPI) showed headline inflation of 11.2% in March. This is a new record. Consumer inflation follows a 40-year high of 8.5% on Tuesday.

But the 10-year treasury dividend fell for a second day, down 4 basis points to 2.69%.

US crude rose 3.6% to $ 104.25 a barrel.


Among the best ETFs, Innovator IBD 50 ETF (FFTY) was up 2.4%, while Innovator IBD Breakout Opportunities ETF (BOUT) was up 1.4%. The iShares expanded technology-software sector ETF (IGV) rose 2.2%. VanEck Vectors Semiconductor ETF (SMH) rose 2.4%.

SPDR S&P Metals & Mining ETF (XME) rose 4.5% and Global X US Infrastructure Development ETF (PAVE) added 1.8%.

US Global Jets ETF (JETS) rose 5.3%. Airlines and other travel stocks rose again Delta Airlines (DAL) Revenue Results and Guidance. DAL stock and American Airlines (AAL) went back above their 200-day line.

SPDR S&P Homebuilders ETF (XHB) rose 1.7%. Energy Select SPDR ETF (XLE) was up 1.5% and Financial Select SPDR ETF (XLF) was equal. Healthcare Sector SPDR Fund (XLV) up 0.5%. UNH Stock and Merck are the major XLV holdings.

ARK Innovation ETF (ARKK) was up 3.2% and ARK Genomics ETF (ARKG) was up 2.6%, reflecting higher speculation. Tesla Shares is the No. 1 holding of Arc Investment ETFs.

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Stocks to watch

FTNT stock rose 3.3% to 340.86, recovering from a 21-day moving average. Cybersecurity has a buy point of 353.08. On Wednesday, the stock came up a narrow downward-sloping trend line on the handle. Moving above that will provide the initial entry. The Fortinet stock has seen sharp moves in its consolidation, but has traded tight over the past few weeks. Although development stocks are difficult, cyber security is an area that works reasonably well. Palo Alto Networks (PANW) and Qualis (QLYS) is breaking down and private equity is constantly buying different players.

MAR stock rose 7.5% to 175.54 above average, rebounding above its 50-day tax on travel stocks recovering on delta earnings. The Marriott stock and a few other hotel plays made good moves at the end of March, but then fell sharply. MAR stock now has a handle buying point with a trophy of 179.40. The stock is already breaking the fall of the handle, providing early entry.

RJF stock rose 3.2% to 111.64, recovering from its 50-day high, breaking its hold on the stock market and providing early entry. According to Market Smith analysis, Raymond James holds the handle buying point with the official trophy of 114.10.

MRK stock was up 0.6% at 86.13, following two sessions. The negative setback on Monday ended a steady move for Dow Jones components from late February. The Merck Stock has a cup base with a buy point of 91.50, but seems to work on a handle.

ULTA shares were up 2.4% at 415.50, ending the day at 408.83 cup-with-a-hand buying point after trying to break through the previous two sessions. The related strength line has risen sharply this month, reaching a 52-week high in recent sessions.

Apple, Tesla stock

Apple shares rose 1.6% to 170.40, recovering from its 50-day high and coming to its 21-day mark. The iPhone company has a handle buying point of 179.71. Arguably, AAPL shares are breaking a fall in that handle, but investors may want to see a little more strength.

Tesla shares rose 3.6% to 1,022.37, moving above its 21-day tax. The stock is operating at a buying point of 1,152.97 cups-with-hand. At 10.7% above its 50-day tax, this is not an attractive initial entry for TSLA stock. High-value growth stocks had a strong bounce on Wednesday, but overall are still struggling. Meanwhile, Tesla Shanghai has been closed since March 28 due to Govt restrictions and may be suspended for several weeks.

Tesla Vs. BYD: Which Booming EV Giant is Best to Buy?

Market Rally Analysis

The stock market rebounded on Wednesday, reducing weekly losses. The Dow Jones and S&P 500 indices recovered 50-day lines, but are well below their 200-day average.

The Nasdaq and Russell 2000 are still below the 50-day range, although the small-cap index is approaching.

Even with their 2% gains, Nasdaq and Russell 2000 were in the days against the limit on Tuesday. Meanwhile, the NYSE and Nasdaq block fell against Mars after two straight delivery days.

Growth stocks had a strong session, but FTNT stock, with some exceptions such as Apple and Tesla, generally struggled with damaged tables.

Growth stocks should show consistent gains before investors are bullish, rather than key indices.

The inventory sector is strong with security stocks and medical supplies such as United Health and MRK stock. Travel plays try to regain momentum, with the MAR stack glowing at an early entry.

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What to do now

If the key indices make a positive return, even if those moves do not significantly change the schedule, investors will begin to speculate about potential gains. But a strong day in a bad or tense market is neither surprising nor particularly encouraging.

The market boom is under constant pressure.

Investors should have a moderate overall exposure, focusing more or less on stocks, medicine and security stocks. Apart from those strong fields, there is very little broad base strength.

If you try beyond those areas, keep the levels very small and definitely do not focus too much on these areas.

Read the big picture every day to stay in tune with the direction of the market and the leading stocks and sectors.

Follow Ed Carson on Twitter @IBD_ECarson For stock market updates and more.

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