Markets are rolling with a recommended market exposure of 80% to 100% after interest rates remained unchanged in the latest Fed meeting. Meanwhile, yields have eased back from record highs, sending stocks soaring.
So what should be on investors' radar? Stock screens make it easy to spot leaders, but what stocks are finding a spot on MarketSmith's top stock screens?
Automated Lists For Picking Top Stocks
Thanks to tools offered by Investor's Business Daily, you can rely on automated lists to do much of the stock picking. These lists are designed to highlight the choicest stocks out of thousands. You then can do a deep dive into the handful of stocks that shine.
Three of the best screens on IBD MarketSmith — Accelerating Leaders, Top-Rated Companies and Fastest-Growing Companies — show stocks with strong technical ratings. HubSpot, Super Micro Computer and LiveRamp Holdings are top stocks in these screens.
The screens can help you stay focused on top stocks as the market gets boosted or buffeted by economic and other news.
The S&P 500 has powered ahead by more than 20% thus far in 2023. High-growth names in technology, airlines and homebuilding — among others — have rallied. And increasing hopes of a soft landing have investors searching for new market leaders.
Top Stocks To Buy Now
Among the essential characteristics to look for, fundamentals come first. Even if some of these companies are not profitable, their stock prices can rise if sales growth is exceptional.
A hot market or innovative product can propel sales. When growth accelerates, there are the makings of a real winner.
Chart strength is equally important. This shows the stock's performance when compared with other companies and the broader indexes.
Remember to keep an eye on volume. High volume can be a positive or negative sign depending on whether the stock is moving up or down. When a stock climbs in high volume, it means that big institutions are picking up shares.
Such buying can drive the price of top stocks up for an extended time. It also pumps liquidity into the stock, which is always a plus for investors.
HubSpot Among Accelerating Leaders
HubSpot is nearing a buy point of 581.40 in a cup base.
Wall Street estimates earnings growth for the enterprise software play at 104% for the year. Sales and earnings have shown steady growth over the past seven quarters.
And more mutual funds have been buying shares of HUBS stock during the past three quarters, giving the stock an Accumulation/Distribution Rating of B.
HUBS stock now has a near ideal Composite Rating of 98 from IBD and a stellar Relative Strength Rating of 92. Its Earnings Per Share Rating is best-possible 99.
Super Micro Among Top Stocks
Super Micro Computer is nearing a buy point of 357 in a long consolidation. An earlier entry of 317.50 is not far away.
Mutual funds have been net buyers of the stock over the past seven quarters, giving the stock its Accumulation/Distribution Rating of B.
SMCI stock has a best-possible Composite Rating of 98 and EPS Rating of 91. Its Relative Strength Rating is 99. Super Micro Computer makes server systems used in data centers.
Fastest-Growing Companies: LiveRamp
Shares of LiveRamp are approaching a buy point of 36.76 in a flat base.
The stock has a Composite Rating of 98 and Earnings Per Share Rating of 99. Its Relative Strength Rating is 93.
The company also holds an Accumulation/Distribution Rating of B+. More funds have been buyers over the past three quarters.
LiveRamp provides support services for marketing and data connectivity.
To find other lists of top stocks, check out IBD Stock Lists and IBD Data Tables.
