It is not easy to find stocks to buy in an uncertain environment but keeping track of what funds are buying is a good strategy at the best and worst of times. Also, reading the charts can hold cues for when to buy stocks.
From the IBD Stock Screener, the list of Stocks Funds Are Buying shows four stocks near buy points.
Deckers Outdoor fell below the 50-day moving average but continues to work on a cup with handle base with a 980.50 buy point. Deckers has an ideal EPS Rating of 99. Over the past eight quarters, growth ranged between 4% and 88% for earnings and 8% and 25% for sales.
Deckers makes shoes and accessories under several brands and ranks first in the shoe manufacturing industry group.
Mutual funds own 64% of shares outstanding, according to IBD MarketSurge. More funds have been loading up on the stock in past seven quarters and in recent weeks, giving it an Accumulation/Distribution Rating of B.
Netflix has been trying to break out of a cup-without-handle base that has a buy point of 697.49.
Sales growth accelerated in the four most recent quarters. Earnings have grown in the past five quarters, ending a string of declines. The stock fell below the 50-day moving average after second-quarter results on July 18 but recovered to build the base. Netflix stock is ranked first in the movies and related businesses group.
Mutual funds own 50% of the stock, and more funds have been adding it to their holdings over the past seven quarters. The stock is also under accumulation and holds an Accumulation/Distribution Rating of B-.
Costco is also near a buy point of 896.67 in a cup base. Sales and earnings growth have been steady over the past eight quarters, although at moderate rates of 2% to 18%.
Fiscal fourth-quarter results are due Sept. 26. Analysts expect slower sales and earnings growth for the current quarter but also see profits rising 10% in 2024 and 2025. The operator of over 850 warehouse stores leads the retail-major discount chains group. More funds have been net buyers in the past five quarters. Costco stock has also been under accumulation in recent weeks and holds an Accumulation/Distribution Rating of B-.
Funds have also been buying JPMorgan Chase, which holds first place in the money center banking group. Shares are in a buy zone from a buy point of 217.56. The company boasts steady sales and earnings growth in the past eight quarters.
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