Stocks To Watch In The Top 3 Performing Sectors

Last week the market faced a pullback.

However, the four major indices closed above Thursday's high on Friday ending the week on a positive note.

With each index potentially poised to run towards highs, we should prepare our watchlist with picks from the top-performing sectors.

Looking at the top 3 performing sectors over the past 3 months we have Oil & Gas Exploration (XOP) up +29%, Solar (TAN) +15%, and Semiconductors (SMH) +14%.

If the market is looking to push higher next week, we should keep these top sectors in mind as equities within these areas will have a much greater chance of making huge gains.

Starting with oil & gas exploration, Callon Petroleum (CPE) is holding above its 10-Day moving average and support from the $60.50 area.

Additionally, CPE has made positive earnings growth for the past 5 quarters and looks ready to clear recent highs if the market permits.

For the solar space, Enphase Energy (ENPH) is a top-performing solar stock sitting near highs.

Though its high price makes it tough to find a perfect risk level, it's worth watching ENPH for an entry point since it’s a major leader in the solar sector.

When it comes to semiconductors and the tech space, Nvidia (NVDA) has held over its 10-Day moving average and has consolidated underneath $308.50.

Timing NVDA with a mover higher in the Nasdaq 100 (QQQ) is key for this mega-cap stock.

Additionally, if NVDA can clear the $308.50 price level it could be ready to make another quick move past highs.

 

Nonetheless, these are three great picks to add to the watchlist, however, keep an eye on the major indices to hold and move higher.

If Monday does not follow through, stay cautious as bulls could easily be trapped as many loaded up on equities Friday anticipating a move to highs.

If this is the case, sit on the sidelines and keep these stocks in your watchlist for when the time is right!

Disclaimer: The information provided by us is for educational and informational purposes. This information is based on our trading experience and beliefs. The information on this website is not ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.