Finance

Artificial intelligence stocks lead 5 stocks to watch near buying points


Artificial Intelligence Stocks Nvidia (NVDA) and snowflake (Snow) leads this week’s popular stocks to focus on their buying points. MasterCard (Well.) can also advance. Booking Holdings (ikB) and United Rentals (Uniform Resource Identifier).




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NVDA stock and SNOW stock are close to buying points. Booking and United Rentals are in buy range after liquidation. MA stock trades at a traditional buy point, thus signaling an early entry.

Nvidia, Booking and SNOW stocks in IBD 50 List Top growth stocks. NVDA stock is also in IBD rankings Booking stock is on the Leaders Watch List. Nvidia stock and BKNG stock are both on the Leaders Watch list. IBD Swing Trader as well as.

Relative strength is key

Most top stocks are rising or improving relative strength lineA rising RS line means the stock is outperforming the S&P 500.

this stock market The rebound from the summer selloff continued in December, bringing these and other top stocks closer to buy points.


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Nvidia Stock: Top Artificial Intelligence Stocks

AI chip leader stock price is trying to regain double bottom buy some After finding support at the 10-week moving average.

NVIDIA Stock It rose 1.6% this week to 475.06. Still below the 476.09 buy point, NVDA did break above the 21-day line and broke the short-lived downtrend, providing an opportunity to enter earlier.

Nvidia shares first broke above the official buy point in early November and reached a record high of 505.48 on November 28.

But Nvidia’s stock price fell after the release of its latest quarterly earnings report, largely due to concerns about exporting artificial intelligence chips to China.

Nvidia stock’s RS line is near all-time highs but remains below its consolidation highs.

Nvidia performs well in key IBD ratings. it gets IBD Overall rating 98 in total, EPS Rating 99 and RS rating 97 points, all are the best 99 points.

A Relative Strength Rating of 97 means NVDA stock outperforms 97% of the stocks in IBD’s database in terms of price performance over the past 12 months.

On November 21, Nvidia disclosed that its third-quarter profits soared by 593% and revenue soared by 206%. Nvidia’s profit growth accelerated from the previous quarter, and its sales growth also accelerated significantly from the previous quarter’s 102%. -The center’s revenue surged 279%, and its business includes A100 and H100 AI chips for artificial intelligence (AI) applications.

Nvidia will face tougher competition. Advanced Micro Devices (AMD) officially announced its artificial intelligence chip lineup on Wednesday.

snowflake inventory

other Top Artificial Intelligence Stocks, Snowflake Pay attention to the 192.66 cup handle buying point.

SNOW shares rose to within 1% of their entry on Friday and are up 2.5% on the week to 190.67.

The RS line is back near the consolidation high, which is a positive sign before a breakout. The RS line remains well below the 2020 highs.

Snowflake stock has a Composite Rating of 96, an EPS Rating of 82, and an RS Rating of 90.

Profits more than doubled last quarter and are on track to more than triple for the full fiscal year, which ends in January, FactSet shows.

Snowflake provides cloud data warehousing software and was launched in September 2020.

It snowed on Friday Daily IBD Stock.

Pre-order inventory

Shares of the travel booking website surpassed a 3,207.32 buy point on Thursday and hit another all-time high on Friday. BKNG shares rose 3.65% this week to 3,275 points.

The RS line is trending higher but remains below the May 2018 high.

Booking stock has a Composite Rating of 98, an EPS Rating of 77, and an RS Rating of 91.

Earnings growth is slowing, but still rose a solid 36% in the latest quarter.

The company, whose brands include Booking.com, priceline.com and Kayak.com, is benefiting from strong travel demand despite economic uncertainty.

United Rental Stock

Shares of the construction equipment rental company returned to buy territory on Friday. URI shares fell 1.35% this week to 495.06, but hit 1.6% on Thursday and 2.3% on Friday.

United Rentals stock first broke above a cup-and-handle buy point of 488.73 on December 1.

The RS line is trending higher, approaching the consolidation peak, but still below the February 2023 high.

URI stock has a Composite Rating of 96, an EPS Rating of 96, and an RS Rating of 85.

United Rentals’ EPS Growth The growth rate for the first three quarters of 2023 ranges from 27% to 39%. Its sales growth has also been strong, partly reflecting the Ahern Rentals acquisition completed in late 2022.

More broadly, United Rentals stock continues to benefit from the passage of the $1.2 trillion infrastructure spending bill in November 2021.

Industrial, construction and infrastructure stocks also had market momentum.


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MasterCard Stock

Shares of the credit card payment company fell 0.5% to 412.16, closing near weekly highs.

Mastercard Stock’s Fundamentals Are Flat MarketSmith pattern recognition, the buying point is 418.60. Investors can view the consolidation as a V-shaped cup-and-handle base, with a buying point of 416.60.

On the weekly chart, MA stock is in three-week tight territory at 416.60.

The rising RS line is not far from the all-time high, but is below the consolidation peak.

Mastercard stock has a Composite Rating of 86, an EPS Rating of 93, and an RS Rating of 79.

It showed an acceleration in earnings growth, with gains capped at 27% in the latest quarter. Growth was driven by elastic consumer spending on travel and entertainment.

Two weeks ago, Mastercard reportedly received long-awaited approval to expand its services in China’s massive payments market.

MA stock rebounded from a sharp sell-off following the release of third-quarter results in late October as the broader market began to rebound.

Unlike other stocks on this list, Mastercard’s RS Series hasn’t made much headway over the past few weeks.

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