From Investor’s Business Daily: 2024-04-26 17:35:46

In the upcoming week, a number of major companies such as Apple, Amazon.com, and Advanced Micro Devices will be reporting their earnings. The stock market rebounded strongly last week, with the Nasdaq and leading stocks leading the way. Tech giants have delivered strong growth and announced significant spending on AI. AI chipmakers like Nvidia and Broadcom flashed buy signals, along with several other stocks ahead of earnings reports. Investors should remain cautious as the major indexes are still below their 50-day moving averages. Furthermore, the market could be swayed by the Federal Reserve meeting and key economic data.

Last week, the stock market rally was strong, especially for the Nasdaq and leading names. Many leading stocks flashed buy signals or extended moves, with significant increases in volume. However, the major indexes may face resistance as they near the 50-day line. Investors are advised to stay engaged and have their watchlists ready, as buying close to the entry point is crucial. With a heavy calendar of earnings and economic news expected, stock market volatility may continue.

In terms of specific stocks, Nvidia stock saw significant gains last week, with a possible early entry point for investors. Other stocks such as Broadcom and Astera Labs also had a strong week. Investors should keep an eye on KLA stock, which cleared the 50-day line following strong earnings. Cava stock surged, reclaiming the 50-day line and offering an entry point for investors. AppLovin and Embraer also saw gains, with buy points identified by MarketSurge analysis. Earnings reports from Eli Lilly and Novo Nordisk will be closely watched for indications of strong growth and production progress.



Read more at Investor’s Business Daily: Dow Jones Futures: Nvidia Leads 7 New Buys As Market Roars; Fed, Apple, Super Micro Loom