The stock market rally fizzled out in 2024, leaving investors waiting for a traditional “Santa Claus” rally that failed to materialize. While some leaders lost gains from breakouts, six IBD 50 stocks are finding support at the 10-week moving average, presenting a new buying opportunity despite higher market risk.
These stocks, including Natera (NTRA), Aris Water Solutions (ARIS), and MakeMyTrip (MMYT), have descended to the 10-week line but are attempting rebounds. Buy points are set at the 10-week moving average of the week the rebound begins, with a 5% range above it.
Natera, which provides prenatal genetic testing and diagnostic services, reported accelerating sales growth for the fourth straight quarter. Despite posting losses, funds have taken notice, becoming net buyers of the stock over the past 13 weeks. Aris Water Solutions, another IBD 50 stock, broke out from a base with higher potential gains and has seen strong sales and earnings growth.
Other IBD 50 stocks in buying range include MakeMyTrip, which has outperformed 95% of other stocks in its database, Vertex (VERX), Shift4 (FOUR), and Affirm (AFRM). These companies have shown steady sales and earnings growth and are holding strong Relative Strength Ratings.
Source: https://www.investors.com/stock-lists/ibd-50/stock-market-ibd-50-stocks-3