US Stock Market: Top 5 Stocks To Watch Out For Today August 14, 2024

US Stock market: Buying stocks is easy, but buying the right stock is extremely difficult without a time-tested strategy. So which stocks are the best to buy now or suitable to put on a watchlist?. In this article, we will suggest you Top 5 Stocks To Watch Out For August 14, 2024.

Keep your eye on Samsara (IOT), Tenet Healthcare (THC), NextEra Energy (NEE), Tyson Foods (TSN), and W.R. Berkley (WRB).

Top 5 Stocks To Watch Out For Today August 14, 2024

Focus on stocks that are leading in key industry groups, and choose stocks with strong institutional support. Below we suggest some stocks.

1. Samsara

Features of Samsara:

Samsara is an artificial intelligence-based company. Its stock is finding support at the 50-day moving average and its performance is strengthening. IOT’s performance is technically strong, and its stock price has increased by about 15% so far in 2024.

Economic Performance

Earnings performance has been strong, with Samsara stock’s EPS Rating at 81/99. Earnings per share have increased by an average of 283% over the past three quarters, reflecting improved performance. Wall Street expects this growth to continue and sees EPS growth potential of 91% in 2025, while another 72% could be expected in 2026.

Investor Outlook

Large investors have recently sold the stock, which is a negative sign. The stock has an Accumulation/Distribution Rating of D, although the up/down volume ratio is slightly positive, standing at 1.1. Overall, 47% of the stock is currently held by funds, indicating good institutional support.

Samsara’s Strategy

Samsara’s platform uses IoT and cloud-based software to help industrial and infrastructure companies monitor their operations. The company expects huge growth opportunities ahead as digitalization is just beginning in many industrial sectors.

2. Tenet Healthcare Stock

Tenet Healthcare Features:

This healthcare stock is in the 5% upside from its adjusted buy point of 147. THC has a very strong performance and is up 99% so far in 2023.

Buy Zone:

Tenet Healthcare stock is in an actionable zone of 5%, from an adjusted buy point of 147. On August 5, the stock entered a bullish upside reversal after finding support below the 50-day moving average, bringing it back above a flat-base entry of 142.35.

Overall Performance and Earnings

As far as performance, THC has done quite well with a 97 IBD Composite Rating. Year to date, Tenet Healthcare shares have rallied 99%. And it also boasts a terrific EPS Rating of 97/99 as well. EPS are expected to increase 50% in the street for 2024.

Investor Support

Tenet stock has benefited from recent buying by institutional investors, Consider its Accumulation/Distribution Rating of B+. That is leveraged up to 69 percent by the big funds. Tenet Healthcare reported its Q1 earnings in July; it posted 60% EPS growth and revenue increased to $5.1 billion, respectively [the Motley Fool].

3. NextEra Energy

The Right Time to Buy

NextEra Energy stock has formed a flat base with an ideal buy point of 80.47. The stock recently retested the 50-day moving average and is also above its short-term moving average.

Overall Performance

So far in 2024, NEE stock is up nearly 28%, outperforming the S&P 500. The stock has an IBD Composite Rating of 96, making it a strong pick.

Financial Performance

NEE stock has an EPS Rating of 85 and Wall Street expects EPS to grow 8% in 2024. NextEra stock is not just a price appreciation play, it also pays a healthy dividend, yielding 2.7%.

Future Prospects

The company expects to benefit from growing energy demand, especially in the field of artificial intelligence. Data centers account for 18% of its gigawatt backlog.

4. Tyson Foods Stock

The right time to buy

Tyson Foods stock is currently close to a buy zone, where it is testing a cup-base entry at 62.04. The stock has rebounded nearly 10% above the 50-day moving average, though has come under broad pressure again.

Overall Performance and Investor Support

Tyson Foods has an IBD Composite Rating of 91. Earnings performance is improving, and its EPS Rating is 79/99. Wall Street expects earnings to grow 109% in 2024.

Financials

TSN outperformed the broader market after its earnings announcement on Monday. EPS increased 480% and sales grew to $13.4 billion. CEO Donnie King praised the company’s performance after the quarter’s report.

5. W.R. Berkley Stock Status

The Right Time to Buy

Although the overall market has declined, W.R. Berkley stock is forming a flat base, with an ideal buy point at 59.46.

Overall Performance and Earnings

W.R. Berkley stock’s overall performance is excellent, with an IBD Composite Rating of 97. The company’s earnings have grown an average of 40% over the past three quarters.

Investor Support

Institutional investors have bought more of W.R. Berkley stock recently.

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