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As the Dow Jones Industrial Average and other stock indexes moved higher Tuesday, IBM (IBM), Broadcom (AVGO), and MongoDB (MDB) were among the best names to watch in the current market. With key indexes at record highs, investors should patiently await new breakouts using The IBD Methodology. It's also important to raise and lower exposure methodically, as those positions gain or lose momentum. Dow Jones index component IBM broke out decisively past a 301.04 handle entry Friday. The shares are also moving out of the 5% buy zone that ran up to 316.09, according to MarketSurge chart analysis. IBM shares were up 1.5% during Tuesday's session. IBM stock backstory: IBM stock jumped Friday on a report about its progress in quantum-computing processes aided by chips from Advanced Micro Devices (AMD). Stocks To Watch: MongoDB A non-Dow Jones index name to watch is MongoDB. Shares of MongoDB are attempting to break out past a 62.09 buy point in a flat base. The stock topped the entry Monday, but closed below it. Mongo shares slipped 0.2% during Tuesday's session. MongoDB stock backstory: The company sells document-based database software and is a player in the artificial intelligence market. It competes in a market dominated by Oracle (ORCL) that also includes offerings from cloud giants like Amazon (AMZN) and Microsoft (MSFT). MongoDB's Atlas product is a subscription database with software designed to work across cloud platforms. Outside The Dow Jones Index: Broadcom Stock Another name to watch outside the Dow Jones Industrial Average is Broadcom. Broadcom stock is breaking out past a cup-with-handle entry of 363.24, rising a Tuesday afternoon rally of nearly 3%. Broadcom stock backstory: Last week, AI startup Anthropic said it plans to expand its use of Google Cloud technologies, including up to 1 million Tensor Processing Units, or TPUs. Anthropic-Google deal is "another positive data point" for Broadcom, as well as chip foundry TSMC (TSM), Wedbush Securities analyst Matt Bryson said in a client note. "More broadly though, we continue to see the accelerated pace of data-center spend (with this deal just one of a spate of recently announced large projects) as positive for our broader hardware universe and in particular the server supply chain," Bryson said. Investing Tips In recent sessions, Investor's Business Daily raised its recommended stock exposure to 80% to 100% for the current market. That means IBD readers should be adjusting their exposure by looking for new breakouts, while cutting stocks that trigger sell signals. An essential resource for daily breakouts is IBD MarketSurge's Breaking Out Today list. It shows MarketSurge Growth 250 stocks that are rising past fresh buy points. Before making any investment decisions, be sure to check current stock market conditions. Also, use IBD Stock Checkup to view ratings for the most important fundamental and technical criteria. To get chart analysis on stocks to buy and watch, as well as high-odds buy-and-sell alerts, check out IBD MarketSurge, IBD Leaderboard, and IBD SwingTrader. Best Stocks To Watch, Including Dow Jones Leader These are the best stocks to watch that are near buy points, including Dow Jones index leader IBM stock.
