Note: We were tempted to just take the week off but given some of the hiccups out there among leading stocks, we wanted to shoot a brief Movers and Shakers with updated sells and stops as we head into the New Year. Your next issue of Top Ten will be next Monday, January 4. Happy New Year!
SUGGESTED BUYS
We do think many of this week’s pullbacks could develop into nice early-stage entries, though we’d prefer some of these names settle down for a few days. Still, stocks like Adient (ADNT), Applied Materials (AMAT), Redfin (RDFN), Zillow (Z), Floor & Décor (FND) and even PayPal (PYPL) look fairly good on a risk/reward basis here. Early January is often tricky, but if you want to start a position in any of these, you can here.
SUGGESTED SELLS
From last week’s Movers & Shakers:
Huazhu Group (HTHT)
– tripped stopModerna (MRNA) – tripped stop
SunPower (SPWR) – booking a profit as the stock is a bit out of trend on the upside
New Sells this week:
MercadoLibre (MELI)
– booking a profit after a few good weeksNorfolk Southern (NSC) – not participating in the rally
Snowflake (SNOW) – tripped stop
Target (TGT) – can trail a stop if you want, but we’re booking a modest profit
SUGGESTED STOPS
Align Technology (ALGN) near 468
Axon Enterprise (AAXN) near 118
Avalara (AVLR) near 163
Canopy Growth (CGC) near 23.5
Carrier Global (CARR) near 35.5
Exact Sciences (EXAS) near 125
Freeport McMoRan (FCX) near 22.5
FuboTV (FUBO) near 33
General Motors (GM) near 40
HubSpot (HUBS) near 362
Marvell Tech (MRVL) near 44
Norfolk Southern (NSC) near 229
Paycom Software (PAYC) near 415
Qorvo (QRVO) near 153
Qualcomm (QCOM) near 141
Quanta Services (PWR) near 65.5
Sonos (SONO) near 20.5
Taiwan Semi (TSM) near 97
Tapestry (TPR) near 27
Zillow (Z) near 119