Stock indexes dropped 5%, but Palantir, Tesla, and Vertiv are top stocks with strong momentum.

From Nasdaq: 2024-12-23 11:08:00

Stock indexes experienced a 5% drop this week, but savvy buyers see it as a holiday gift. Fed Chair Powell’s hawkish stance on rates was countered by optimistic PCE inflation data, easing inflation concerns. Palantir, Tesla, and Vertiv are top stocks to watch, with strong momentum and bullish catalysts.

Tesla’s stock is soaring due to Elon Musk’s influence and positive business outlook. Analysts raised earnings estimates, giving TSLA a Zacks Rank #1. Technical setup shows potential for further rally if it breaks above $443.

Vertiv excels in data infrastructure, essential for digital economy growth. Analysts upgraded earnings estimates, giving VRT a Zacks Rank #1. Technical setup indicates a breakout if it clears $121 level.

Palantir Technologies, under CEO Alex Karp, is a leader in data-driven technology. Strong stock performance and positive analyst outlooks give PLTR a Zacks Rank #2. Technical pattern suggests a breakout for a potential rally.

Investors should consider buying shares in VRT, TSLA, and PLTR for growth opportunities. These stocks are well-positioned in their industries to benefit from market trends. Careful consideration of risks and valuations is advised for long-term investment success.



Read more at Nasdaq: Zacks Investment Ideas feature highlights: Palantir Technologies, Tesla and Vertiv