Copyright Investor's Business Daily
While the Nasdaq composite looks to fight off Tuesday's retreat, GE Aerospace (GE), Karman (KRMN), and AeroVironment (AVAV) leads a swarm of defense stocks on the Investor's Business Daily Breakout Stocks Index. Artificial intelligence-fueled companies AppLovin (APP), Alphabet (GOOGL), and Advanced Micro Devices (AMD) also made this weekly screen. In total, 36 stocks to watch make the list. In addition to defense firms like GE and AI leaders like AppLovin and Google parent Alphabet, companies from a broad spectrum of industries — including medical, airlines, finance, cybersecurity, electronics, energy, retail, and more — make the cut. See Who Joins Google And AppLovin, On The IBD Breakout Stocks Index AppLovin Stock Among Names In Or Near A Buy Zone While Alphabet, GE, AMD, Bloom Energy (BE), Cardinal Health (CAH), TE Connectivity (TEL) and others have climbed out of buy range, several remain in or near a buy zone. Featured in this column on Oct. 29, AppLovin appears to keep working on a new base. The potential buy point is 745.61, but the stock could also form a handle to offer an earlier entry. Showing its enduring technical strength, AppLovin stands above its sharply rising 50-day moving average. An upcoming test will be to see if shares hold support above the 21-day exponential moving average, which started drifting lower last month. Meanwhile, Heico (WGS), featured in this column on Oct. 22. The rare-disease diagnostics leader currently trades in buy range after clearing a 136 entry on Oct. 28. While IPO Leader Pattern Group (PTRN) has dropped below the high it on Oct. 27 after breaking out from an IPO base two days earlier, it ended Tuesday's session at the top of its buy range. The database software firm now faces a major test after Wednesday's market close — its first earnings report as a public company. Irish airline Ryanair (RYAAY) has flow into buy range from a 62.19 buy point in a cup with handle. SPX Technologies (SPXC), which makes industrial products for a range of industries, is also in buy range. The stock broke out after the company posted third-quarter earnings on Oct. 30. It now stands 3% above a 209.38 entry in a second-stage cup pattern. After temporarily retreating to test its 21-day line, cybersecurity leader Zscaler (ZS) has bounced back into buy range. The optimal buy zone ranges up to 5% above the initial 318.46 buy point in an early-stage cup formation. As bases and buy zones form, investors should keep an eye on the overall market, applying rules for how to buy stocks and when to sell. IBD Breakout Opportunities ETF The IBD Breakout Opportunities ETF (BOUT) from Innovator Capital Management tracks the IBD Breakout Stocks Index. As with other index ETFs, this fund allows you to invest in the entire index in addition to, or rather than, buying individual stocks. Learn more here about the ETF and Innovator. Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani. YOU MAY ALSO LIKE: Top Funds Keep Loving This AI Stock Alongside Palantir, Nvidia Nvidia Returns, Palantir Remains As Top Funds Bank On This Stock Catch The Next Palantir, Nvidia Or IPO Gem. Here's How. See Which Stock Just Came On – And Off – These Premier Stock Screens
