Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Investors Business Daily
Investors Business Daily
Business
MATTHEW GALGANI

From Amazon To Uber, Santa Claus Rally Loads Up These Breakouts

A new market uptrend as the holiday season begins has investors shopping for stocks to watch in an emerging Santa Claus rally. Recent action in Magnificent Seven stocks like Amazon and Microsoft, as well as ride-share king Uber Technologies and cloud leader Arista Networks, has loaded up Santa's sleigh with a slew of names on the IBD Breakout Stocks Index.

Boosted by cloud computing and artificial intelligence, Microsoft continues to ride the rally to new heights. Streaming pioneer Netflix joins MSFT stock, AMZN, Uber and a host of other components of the IBD Breakout Opportunities ETF, which tracks companies on the IBD Breakout Stocks Index.

Meanwhile, after struggling since 2022 as tech and growth stocks fell out of favor, the BOUT ETF has begun to perk up. Updated and rebalanced weekly, the BOUT ETF enables investors to tap into stocks like Amazon, Microsoft, Uber, Arista Networks and many others with a single trade.

Amazon Stock On List Of Breakouts To Watch

The table below highlights just a few stocks in or near a buy zone included in the latest update of the BOUT ETF. Click here to see the full list.

Since posting 236% earnings growth for Q3 on Oct. 26, Amazon stock has continued to rise. As the online retail and cloud services giant got back above its 50-day moving average, it also cleared a 134.48 buy point in a double bottom base.

Additionally, in a sign of massive demand for Amazon among top money managers, the stock made this month's list of new buys by the best mutual funds, which comes on Friday. These savvy investors scooped up more than $16 billion worth of shares in AMZN stock.

Uber, Microsoft And More Add To List Of Stocks To Watch

With its relative strength line soaring, Uber stock posted a positive reversal Tuesday, fueling a breakout past a 49.19 entry. That action earned got Uber recently featured as the IBD Stock Of The Day. The stock remains in buy range early Wednesday.

Along with fellow Magnificent Seven stock Amazon, Microsoft continues to climb, with its RS line also hitting a 52-week high. The IBD Long-Term Leader blasted past a 340.86 buy point in a double bottom, a common pattern in choppy markets.

Riding the AI wave, ANET stock also broke out of a double bottom. As a result of a strong gap-up on earnings and a continued climb, Arista is now extended from its 198.46 entry.

To explore other stocks to watch in this Santa Claus rally, click on the ticker symbols below to see the current stock prices and stock charts for each company.

Company Symbol Comp Rating EPS Rating RS Rating Ind Group RS SMR Rating A/D Rating
Arista Networks 99 97 97 A A A-
Microsoft 99 97 95 A+ A B-
MercadoLibre 98 82 92 C+ A A-
Dynatrace 98 98 89 A- A B+
Urban Outfitters 98 99 94 A C B
Arch Capital 98 98 94 B+ A B-
Grand Canyon Education 97 91 94 A+ A B+
United Rentals 97 96 87 B+ A C-
Chipotle Mexican Grill 97 97 93 D+ A A-
JFrog 96 82 87 A- C C-
Advanced Micro Devices 96 81 95 A B A
Netflix 96 94 94 A B D
Ensign 96 96 88 B+ A B-
Trade Desk 95 97 95 C- A B
Toll Brothers 95 98 95 B- A B-
Martin Marietta 95 97 89 B- B B
Noble 93 54 88 B B B+
Wingstop 89 98 94 D+ - B+
Uber Technologies 89 77 96 C+ D B+
Amazon.com 88 82 95 C+ C B-

See Full List Of Stocks On The IBD Breakout Stocks Index

IBD Breakout Opportunities ETF

The IBD Breakout Opportunities ETF 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.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.