Volatile action in February rattled tech titans like Tesla, Nvidia and Palantir Technologies, leading to a changing of the guard on IBD Leaderboard. While Tesla, Palantir and Nvidia have been removed, Netflix and Magnificent Seven stock Meta Platforms stand tough but tested among nine full-fledged Leaderboard members, with Intuitive Surgical on the watchlist.
As the tech-heavy Nasdaq retreats to test its 200-day line after a sharp fall from its 50-day moving average, Meta and Netflix stock weather the storm to remain in buy ranges. Meanwhile, as Eli Lilly and Fiserv show market-leading strength, TG Therapeutics jumped onto the Leaderboard list on Monday as the stock rockets — with a word of caution for investors.
Meta, Netflix And More Shine On IBD Stock Screens
In addition to making the Leaderboard list — which is manually curated by Investor's Business Daily's market experts — Meta, Netflix, Intuitive Surgical and others make multiple, computer-generated stock screens based on The IBD Methodology.
Meta, Netflix, Intuitive Surgical and Agnico Eagle Mines all make both the IBD 50 and the IBD Big Cap 20. DoorDash and biotech stock GeneDx earn a spot on the IBD 50 list of top growth stocks.
Biotech Stock Breaks Out Alongside Eli Lilly
On Monday, TG Therapeutics blasted higher, clearing a trendline entry and a 34.58 handle-style buy point. But with given the biotech's history of sharp pullbacks after clearing buy points, investors should be prepared for whipsawing moves, especially in this type of market environment.
Drug giant Eli Lilly has climbed to the upper end of its 889.36 to 933.83 buy zone. Like with TG Therapeutics, the relative strength line for Eli Lilly has spiked — a clear sign of market leadership.
Meta Stock, Netflix Tease Top Of Buy Ranges
While Tesla fell off the IBD Leaderboard watchlist at the end of last month, Meta and Netflix have weathered volatility in the market indexes. Both tech stocks sport the highest-possible 99 Composite Rating as they hold strong near the top of their buy zones.
After coming off the all-time high it notched in February, Meta stock found support at its 50-day moving average. On Monday, Apple lost support at its 50-day line, meaning Meta remains the sole Magnificent Seven stock trading above that line — for now. Down nearly 2% Monday, Meta is now cling to support at that benchmark.
Showing its strength in a troubled market, Netflix trades above its 50-day line and in buy range, which extends from 941.75 to 988.84.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
