From Nasdaq:

Investors can gain valuable insight and tips to stay ahead of the stock market game by checking out Momentum Mondays. With a focus on breakout stocks, market events and profitable trading, it’s a must-read for traders. This week covers the economic and earnings calendar, as well as equity rallies and technical trade setups.

Critical economic data releases and earnings meetings are ahead this week, including Fed speakers, CPI and Core CPI inflation data, initial jobless claims, and PPI and Core PPI. Major earnings reports from companies like Coca-Cola, Shopify, and Applied Materials are also expected. These events could have a significant impact on the market.

Semiconductor stocks are leading the equity rally, with companies like Nvidia, Super Micro Computer, and ARM Holdings making remarkable moves. This trend reflects the market’s ongoing focus on the growing impact of Artificial Intelligence, and the Nasdaq 100 looks set for further gains.

This week’s technical trade setups focus on earnings gaps and bull flags, combining strong gaps higher after earnings with sideways action for a high probability trading setup. Clorox, HCA Healthcare, Netflix, and Meta Platforms are the top picks, each classified as a Zacks Rank #1 (Strong Buy).

Traders are advised to prioritize solid risk management, making and following a trading plan, and sticking to strict risk management protocols. And for early-bird access to the top 10 stocks for 2024, traders can get in on Zacks’ top tickers to buy and hold in the year ahead, handpicked by Zacks Director of Research, Sheraz Mian, for a portfolio that has gained +974.1% since 2012. With a free stock analysis report also available, traders have access to the latest recommendations from Zacks Investment Research.



Read more: Momentum Monday: Inflation Data, Earnings, and Semiconductors