From Netflix, Novo Nordisk and Intuitive Surgical[ticker symb=ISRG] to Booking Holdings, Deckers Outdoor and Abercrombie & Fitch, the IBD Breakout Stocks Index features a veritable smorgasbord of stocks to watch. Four IPOs, including PACS Group and Morgan Stanley Direct, also make this week's IBD Breakout Stocks Index.
Featured in this column on May 15, Pinterest also makes a return visit. Pinterest, Netflix, Novo Nordisk, Intuitive Surgical are just some of the names on the breakout index currently trading in or near buy zones.
After finding support at its 21-day exponential moving average this week, Netflix stock jumped back into buy range Wednesday, retaking a 639 entry. Novo Nordisk popped past a 137.22 buy point in strong and rising volume on Tuesday. NVO stock rose again Wednesday, with its relative strength line already at a new 52-week high. But the bases for both Netflix and Pinterest are late-stage.
Apollo Global Management — the IBD Stock Of The Day on May 31 — also made this stock screen. The investment and fund manager currently trades just below a 117.15 buy point in a third-stage flat base.
Booking stock — Tuesday's IBD Stock Of The Day — has also booked a spot on this list. The travel giant has formed a handle on a double-bottom base, presenting a 3,853 entry.
While NXP Semiconductors is already extended after clearing a 251.96 buy point in a double bottom, two fellow chip-sector stocks continue to etch new entries. KLA has also climbed out of buy range, while Monolithic Power Systems trades within buy range.
See Who Joins Netflix Stock On The IBD Breakout Stocks Index
Deckers, Abercrombie, On Holding Lead Fashionable Breakouts
Abercrombie & Fitch joins Swiss shoemaker On Holding and Deckers Outdoor on the fashionable side of the IBD Breakout Stocks Index. All three of these stocks have climbed beyond buy range.
Fashion icon Ralph Lauren looks to follow suit with a breakout of its own. After the company posted a 90% spike in earnings on May 23, the stock jumped back above its 50-day moving average. Ralph Lauren now looks like it may form a handle, which takes at least five days to complete. A handle entry in the current setup would offer a 187.50 buy point.
Morgan Stanley Direct Among IPO Stocks To Watch
While a total of four newer IPOs make the IBD Breakout Stocks screen, only PACS Group makes the IPO Leaders list. The provider of long-term health care has soared since going public in April at 21 a share.
Since debuting in January, Morgan Stanley Direct has also made an impressive but volatile climb. Morgan Stanley Direct is a specialty finance company focused on lending to middle-market companies. In a show of resilience, the stock has weathered some sharp swings. After breaking out last month, the stock pulled back but found support at the 50-day line. Morgan Stanley Direct is back in buy range.
Cruise line operator Viking Holdings has continued to sail higher after its IPO in May at 24 a share. The stock pulled back Wednesday, but came off the day's lows.
Loar, a maker of components for the aerospace and defense industries, has also launched an impressive debut. It cleared an IPO base May 21. Shares of Loar closed Tuesday's session just beyond the very top of the buy range, which goes to 57.04. It became further extended Wednesday.
Netflix Stock Makes 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.
