Nvidia, which is showing resilience with support at its 50-day line after slipping below its 21-day exponential moving average, holds its spot on IBD Leaderboard. Nvidia stock is looking to retake the 140.76 entry it cleared earlier as Meta Platforms rises over 3% Monday to take aim at a 602.95 buy point.
The two Magnificent Seven stocks are joined by five other Leaderboard members, including Costco Wholesale and Tradeweb, that are in or near a buy zone.
Meanwhile, watchlist members Tesla, Shopify, Cava Group, On Holding and Astera Labs are knocking at the door to become full-fledged members of IBD Leaderboard.
Nvidia Stock, Meta Make Late-Stage Moves
Given their already impressive runs, it's no surprise that the bases for Nvidia and Meta are late-stage patterns, which can certainly work but entail more risk.
Other Leaderboard stocks in or near buy range include retail giant Costco Wholesale and defense contractor Heico. Both stocks have formed second-stage flat bases. Costco stock continues to climb, closing just above the very top of its buy zone on Monday after breaking out on Nov. 8.
In recent weeks, Meta, Costco and Heico have been featured as an IBD Stock Of The Day.
Last month, Tradeweb briefly cleared a 136.13 buy point. While still trading above its 21-day and 50-day lines, the stock has drifted below that entry in light volume.
After clearing a trendline entry near 23.50, Blue Owl Capital continues to test a 24.17 buy point in a short consolidation pattern as it clings to support at its 21-day benchmark.
Taylor Morrison Home remains in buy range from a 71.95 buy point in a third-stage flat base. After briefly clearing that entry and then retreating, the homebuilder found support at its 50-day line and popped back into buy range.
Tesla, Shopify, Cava, Two Others On Watchlist
While none is currently actionable, Tesla stock, Shopify and Cava earn spots on the IBD Leaderboard watchlist. Athletic shoemaker On Holding and Nvidia industry peer Astera Labs are also knocking on the door for full admission into the Leaderboard club.
Each of these stocks has climbed out of buy range, so keep an eye out for new bases and buy points.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
