The act of buying a stock is simple, but picking the right stock without a tested strategy is extremely challenging. Is there any stock you should be buying now or putting on your watchlist? Raytheon Technologies (RTX), Apple (AAPL), Tesla (TSLA), Shell (SHEL) and LPL Financial (LPLA) are among the major contenders. For more information, visit stockcamel.com.
The market has been challenging so far in 2022 with inflation worries growing, the Federal Reserve following a hawkish stance on interest rates, and bond buying tapering. Moreover, the Russian invasion of Ukraine continues to loom large in the market. There is renewed pressure on the current market rally.
Stocks To Watch Or Buy
we’ve examined apple, tesla, raytheon, shell, and lpl financial stocks more closely now. the stocks all have impressive relative strengths, which is an important factor to consider.
Apple Stock
Apple stock is trading below its double-bottom entry pattern. According to MarketSmith’s analysis, 176.75 is the ideal buy point. In addition, there has been a new handle formed, which offers a higher buy point of 179.71. Perhaps that’s the ideal entry point now.
A bounce off of Apple’s 200-day moving average has led to the stock looking for support below its 50-day line. This has led to a new high on the relative strength line. There is a possibility that AAPL will continue to rise.
Its performance during the market pullback stands out as a key argument in favor of Apple stock.
Tesla Stock
Stock analysis by MarketSmith has shown that Tesla stock has formed a cup and handle with a 1,152.97 buy point. In an environment where weak holders may be shaken out and key moving averages have time to catch up, investors may welcome a deeper, longer handle.
After surging at the beginning of last week, Tesla’s relative strength line has slowed down a bit.
TSLA has earned an impressive IBD Composite Rating of 95 due to top-notch stock market performance and improving earnings. The company is due to report earnings on April 20.
The Raytheon Technology stock
A 104.44 buy point is close to breaking out of the flat base for the stock. Furthermore, the stock could be actionable if it breaks out of its 10-week range.
Considering current market conditions, investors who are interested in buying RTX stock early might do better to wait for it to clear its March 25 high of 125.97. The stock reached resistance just shy of that key level this past week.
A new high has been reached by the relative strength line on the weekly chart, an encouraging development. We should not be surprised by the current global security situation or a continuing upward trend.
Shell Stock
Its stock has rebounded from its 21-day line to just above a 56.23 buy point. As a result of firm support at the 50-day line, the stock has built a bullish base-on-base formation. Earlier in the week SHEL’s stock flirted with a breakout before retreating.
Lately, the stock has jumped above its 10-week line. Although the RS line has been choppy in recent weeks, the overall trend has been up since the beginning of the year.
Shell’s stock performs well in the stock market. The stock has risen nearly 40% in price over the last 12 months, making it the top 6% of stocks.
Stock of LPL Financial
The company has carved out a first-stage base of 191.08. The company has a higher chance of success thanks to this first-stage base. This is a play to watch for now since it’s extended.
By passing its buy point, the relative strength line shot to new highs, lending credibility to the breakout. Furthermore, the 21-day exponential moving average has also been passed by the relative strength line.
