Best Robinhood Stocks To Buy Or Watch Now

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Buying a stock is deceptively easy, but purchasing the right stock at the right time without a proven strategy is incredibly hard.So, what are the best Robinhood stocks to buy now or put on a watchlist? At the moment, Exxon Mobil ( XOM ) General Motors ( GM ) and Catalyst Pharmaceuticals ( CPRX )…

imageBuying a stock is deceptively easy, but purchasing the right stock at the right time without a proven strategy is incredibly hard.So, what are the best Robinhood stocks to buy now or put on a watchlist? At the moment, Exxon Mobil ( XOM ) General Motors ( GM ) and Catalyst Pharmaceuticals ( CPRX ) are standout performers, at least relatively.

X Unlike misfiring meme stocks such as GameStop ( GME ) and AMC Entertainment ( AMC ), these stocks offer a mix of solid fundamental and technical performance.

Best Robinhood Stocks To Buy: The Crucial Ingredients There are thousands of stocks trading on the NYSE and Nasdaq.But to generate big gains you have to find the very best.The best Robinhood stocks for investors will be those that offer a mix of earnings and stock market performance.

The CAN SLIM system offers clear guidelines on what you should be looking for.Invest in stocks with recent quarterly and annual earnings growth of at least 25%.Look for companies that have new, game-changing products and services.

Also consider not-yet-profitable companies, often recent IPOs, that are generating tremendous revenue growth.

The Market Is Key When Buying Robinhood Stocks A key part of the CAN SLIM formula is the M, which stands for market .Most stocks, even the very best, follow the market direction.

Invest when the stock market is in a confirmed uptrend and move to cash when the stock market goes into a correction.

A stock market rally that kicked off 2022 soon fell on its face.While the market battled back amid a better than expected earnings season, the previous uptrend failed amid disappointing inflation data.The market had been trying to battle back, with the S&P 500, the Nasdaq and the Dow Jones Industrial Average all powering off lows for the year.But this new confirmed uptrend has already hit the skids due to hawkish comments made by Fed Chairman Jerome Powell following the latest Federal Open Market Committee meeting on Wednesday.

The market outlook has once again worsened to uptrend under pressure.Investors should stop buying stocks, aside from exceptional breakouts in exceptional stocks.In this case, focus on fundamentally strong stocks coming out of sound chart patterns, such as those in the IBD 50 .These names will tend to have rising relative strength lines .The stocks below are good candidates.

Investors should be taking some profits.

Target stocks that recede after they’ve rallied 20% or more from buy points.It is also key to stay on top of sell signals as not every trade will work out, even in an uptrend.Any stock that falls 7% or 8% from your purchase price should be jettisoned.Also beware of sharp breaks below the 50-day or 10-week moving averages .

Remember, there is still significant headline risk.

Inflation remains a key issue while the Russia-Ukraine conflict is a wild card that has proved its ability to shake the market.

Things can quickly change when it comes to the stock market.Make sure you keep a close eye on the market trend page here .

Best Robinhood Stocks To Buy Or Watch Now let’s look at Exxon stock, GM stock and Catalyst Pharmaceuticals stock in more detail.An important consideration is that these stocks are solid from a fundamentals perspective, while institutional ownership is also strong.They are also part of the Robinhood Top 100 Stocks, the platform’s most popular stocks among traders.

Looking For The Next Big Stock Market Winners? Start With These 3 Steps

Exxon Stock Exxon Mobil stock is among the best Robinhood stocks to buy or watch now.

It is one add to your watchlist at the moment as it trades at the top of the buy zone above a 105.67 entry.

It has bullishly pulled clear of the 50-day moving average after finding support at the 200-day line.The relative strength line remains near new highs and is bending upward.

XOM stock has a near-perfect IBD Composite Rating of 98.Stock market performance is bullish, with the stock rising about 77% since the start of the year .Improving earnings performance gives added credibility to a bullish outlook on Exxon Mobil stock.

Oil prices surged as the West turns away from Russian supply, topping $130 a barrel.U.S.crude futures recently plunged to $80, their lowest level since January, but then rebounded earlier this month as OPEC and key allies agreed to steep production cuts of 2 million barrels a day.

Irving, Texas-based Exxon is diversified across much of the oil and gas spectrum.

Operations range from exploration and production of crude oil and natural gas to refining and marketing fuels and petrochemicals.Exxon is one of the largest publicly traded companies in the energy sector.

That diversity can reduce volatility, but natural gas and gasoline prices also have come down significantly.

Exxon has just reported earnings surged 181% to $4.45 per share in Q3 while revenue jumped 52% to $112.1 billion.These were both above analyst views.

Capital and exploration expenditures came in at $5.7 billion in the third quarter.So far in 2022 XOM has spent $15.2 billion, which the company says is on track with full-year guidance of $21 billion-$24 billion.

Oil-equivalent production in the third quarter was 3.7 million barrels per day, up more than 50,000 oil-equivalent barrels per day from Q2.

Exxon Mobil also announced a fourth-quarter dividend of 91 cents per share, an increase of 3 cents per share.The company said it plans to pay out $15 billion in aggregate for the year.

On April 26, Exxon said it hiked its recoverable resource estimate for its Stabroek Block in offshore Guyana to 11-billion oil-equivalent barrels, thanks to three new discoveries at the site.The previous estimate was for 10 billion barrels.

But Exxon , like other oil companies, is appealing to ESG investors by earmarking funds to develop new business models to address climate change.

Exxon has announced $15 billion in investments in its Low Carbon Solutions business.

GM Stock GM stock has formed a cup base with an ideal entry point of 42.46, MarketSmith analysis shows .General Motors stock is back above the key 50-day moving average, though much of the base formed below it.

GM could be forging a handle right around the 200-day line.A decisive move above the 200-day, clearing the Nov.1 high of 40.10 could provide an early entry before a handle develops.

The RS line is making progress once again after a recent dip.

Nevertheless, it is off highs for the year.

Stock market performance and earnings are moving roughly in lockstep.The stock has surged off late, gaining about 19% in the past four weeks alone.

It has more work to do to recoup its losses for the year though.

General Motors has just snapped a four-quarter streak of declining earnings.GM earnings rebounded 48% to $2.25 per share, topping analyst estimates.Revenue bounced 56% to $41.889 billion, but was light of Wall Street expectations.

Despite the big Q3 beat, General Motors still sees full-year EPS $6.50-$7.50.

It continues to expect 25%-30% higher wholesale volumes and automotive free cash flow of $7 billion-$9 billion.

Wall Street now sees full-year GM earnings per share of $7.10, up 0.4%.

Big money has been buying up the stock of late, which is reflected in its Accumulation/Distribution Rating of B-.In total, 48% of its stock is held by funds.

One key part of the CAN SLIM formula that GM is pursuing is the N, which stands for New Products.GM has said it hopes to phase out the sale of ICE light vehicles by 2035.

At a Nov.

17 investor day GM will discuss the “rapid scaling of our EV portfolio,” CEO Mary Barra said in a recent letter to shareholders.

For General Motors an EV ramp is key as it attempts to compete with Tesla ( TSLA ).

GM aims to deliver 400,000 EVs in North America through 2024.But its pricey new Hummer and Lyriq EV models sold less than 500 units combined last quarter, with an older but refreshed Chevrolet Bolt model comprising the bulk of its EV sales.

Next year, the automaker plans to increase Bolt EV production by nearly 60%.In 2023, GM also plans to launch the first all-electric versions of the Silverado truck, Blazer SUV and Equinox SUV crossover, all from its Chevrolet brand, which is known for value.

Along with earnings, auto industry forecasts are under close scrutiny.Investors and industry watchers are bracing for any signs of weaker demand as interest rates rise and recession fears grow.But on Tuesday, GM CEO Mary Barra said “demand continues to be strong,” echoing similar statements from both GM and Ford management earlier in October..

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Best Robinhood Stocks To Buy Or Watch Now | Investor's Business Daily

Buying a stock is deceptively easy, but purchasing the right stock at the right time without a proven strategy is incredibly hard.So, what are the best Robinhood stocks to buy now or put on a watchlist? At the moment, Exxon Mobil ( XOM ) General Motors ( GM ) and Catalyst Pharmaceuticals ( CPRX )…
Best Robinhood Stocks To Buy Or Watch Now | Investor’s Business Daily

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