After gapping down below its 50-day moving average and failing to find support at its 200-day line, Nvidia has lost its spot on IBD Leaderboard. But fellow Magnificent Seven stocks Meta Platforms and Alphabet have shown strength. But Google stock is down late Tuesday after reporting earnings.
Meanwhile, AppLovin — one of the best stocks of 2024 — looks to launch a new breakout. And Tesla and Axon Enterprise join a group of four stocks on the IBD Leaderboard watchlist.
AppLovin Sets Up As Nasdaq Shakes Tariff Fight
Meta continues to hold near its all-time high as Nvidia reinforces the eight "secrets" of when to sell stocks. After notching a record high Tuesday, Alphabet is down after hours on light revenue.
At the same time, AppLovin, Shopify ad Us Foods are among five IBD Leaderboard names in or near a buy zone. HubSpot, which was featured in the IBD Stock Analysis on Jan. 17, and Wix.com round out this cadre of stocks to watch.
Netflix joins IBD Leaderboard as the video streamer tests the very top of its buy range.
Axon Takes Aim At Breakout As Tesla Looks On
Among the four stocks on the IBD Leaderboard watchlist, Axon stands closest to launching a breakout.
The Taser maker has formed a second-stage cup pattern with a 698.67 buy point.
While Cava Group and On Holding continue to work on new setups, both stocks have climbed back above their 50-day lines. After falling over 7% below a 60.12 entry to trigger a sell rule, On Holding is striding to retake that prior buy point.
After reporting earnings and revenue that came in short of Wall Street expectations, Tesla stock retreated below its 50-day moving average on Monday. While the electric vehicle maker may be in the process of building a new base, its relative strength line has lagged since notching a 52-week high in December.
For the first time since August of 2023, Tesla just made this month's list of new buys by the best mutual funds, which comes out on Friday.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
