Investor’s Business Daily (IBD) hosted a live Q&A session on August 29, 2023, with market analysts from the IBD Stock Analysis team. The session covered a variety of topics, including the current market environment, top stock picks, and trading strategies.
One of the key takeaways from the session was that the market is still in a corrective phase, but there are some signs of strength. The analysts noted that the S&P 500 has been able to hold above its 50-day moving average, which is a positive sign. They also pointed to the fact that some of the leading growth stocks have been making new highs, which is another sign of strength.
The analysts also discussed two key stock lists that are worth watching. The first list is the IBD 50, which is a list of the top 50 growth stocks in the market. The second list is the IBD Breakout Stocks, which is a list of stocks that have recently broken out of a chart pattern.
The analysts recommended that investors focus on stocks that are on these lists, as they are more likely to continue to outperform the market. They also advised investors to be patient and not to chase stocks that have already made big moves.
Here are some of the stocks that were discussed in the Q&A session:
Apple (AAPL): Apple is a top pick on the IBD 50 list. The stock is currently trading near its all-time high, but the analysts believe that it has more room to run.
Microsoft (MSFT): Microsoft is another top pick on the IBD 50 list. The stock is also trading near its all-time high, but the analysts believe that it is still a good buy.
Amazon (AMZN): Amazon is a stock that is on the IBD Breakout Stocks list. The stock has recently broken out of a chart pattern, and the analysts believe that it is poised for further gains.
Tesla (TSLA): Tesla is another stock that is on the IBD Breakout Stocks list. The stock has also recently broken out of a chart pattern, and the analysts believe that it is a good buy.
NVIDIA (NVDA): NVIDIA is a stock that is on the IBD 50 list. The stock has been on a tear in recent months, and the analysts believe that it still has room to run.
The analysts also discussed some of the key factors that investors should keep an eye on in the coming weeks. These factors include the Federal Reserve’s monetary policy, the ongoing war in Ukraine, and the global economic outlook.
The analysts concluded by saying that the market is still volatile, but there are some opportunities for investors to make money. They advised investors to be patient and to focus on stocks that have strong fundamentals and technicals.
