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Buying a stock is simple, but buying the appropriate stock without a proven plan is extremely difficult. So, what are the greatest stocks to buy or add to your watchlist right now? Apple (AAPL), Alphabet (GOOGL), UnitedHealth (UNH), Broadcom (AVGO), and Marathon Petroleum (MPC) are among the most likely choices.
Apple Stock
The stock of Apple Inc. is currently trading above the entry of a double-bottom pattern. According to MarketSmith's analysis, the best buy position is 176.75.
By retaking its 50-day line, Apple stock achieved a critical aim. It follows a recovery from the stock's 200-day moving average. Momentum appears to be on the decline after moving up 10 sessions in a row.
A trendline, right above the 50-day line, may have served as an early entry point for aggressive investors.
The relative strength line has recently surpassed a previous high. A sustained upward spike might catapult AAPL back to new heights.
The fact that Apple shares outperformed most stocks, especially technologies, during the market downturn is a crucial factor in its favor.
Apple's Composite Rating has increased to a strong 95 out of 99. Earlier this year, Apple became the first firm to exceed a market capitalisation of $3 trillion, though it has since eased off.
Following the Covid-19 epidemic, the IBD Stock Checkup tool reveals that earnings growth has rebounded in recent quarters. Apple's shares rose after the company reported earnings for the first quarter of fiscal 2022.
According to MarketSmith research, Google parent Alphabet has carved out a cup base with an excellent buy point of 3031.03.
It has risen above its 50-day and 200-day moving averages. GOOGL stock could be purchased now as an early entrance or as a Long-Term Leader by investors.
Following a post-earnings rally, the relative strength line slid, but it is now starting to rise again. The RS line compares a stock's performance to that of the S&P 500 index.
The IBD Composite Rating for GOOGL is a solid 93. This places it in the top 7% of all stocks monitored. With an EPS Rating of 96 out of 99, earnings outperform stock market performance.
Over the last three quarters, earnings have increased by an average of 105 percent. This is about four times the 25% growth rate that CAN SLIM investors were hoping for.
Google's earnings per share are expected to rise 17 percent in 2022, and then another 17 percent in 2023.
The tech behemoth has an 85 Relative Strength Rating. In terms of price performance, it has outperformed 85 percent of stocks monitored over the last 12 months. During that time, it has increased by nearly 30%.
UnitedHealth Stock UNH is trading over a 501.03 double-bottom purchase point. On the double-bottom pattern, a handle entry has appeared, with a lower buy target of 500.10. It is currently trading above both of these levels.
One reason to be bullish is the relative strength line. It has recently made a new high, which is a positive sign as it prepares to attempt a breakout.
Much of the base was built above the 50-day moving average, which is a significant advantage in such a volatile market.
UNH stock has excellent all-around performance, as evidenced by its very impressive Composite Rating of 94 out of 99.
However, earnings in particular are a strong suit, with an EPS Rating of 95 out of 99. Over the last three quarters, earnings have increased by an average of 24%.
Wall Street analysts expect double-digit earnings growth in the near future. Profits are expected to increase by 14% in both 2022 and 2023.
In the fourth quarter, UnitedHealth's earnings per share increased by 78 percent to $4.48. Revenue increased by 12.6% to $73.7 billion. Full-year adjusted EPS of $21.10 to $21.60 was reaffirmed by management for 2022. UnitedHealth is expected to earn $21.62 per share, according to FactSet analysts.
According to MarketSmith analysis, Broadcom stock is trading below an official purchase mark of 677.86. Last week, though, shares cleared an early entry of 614.74 and are still tradeable from there.
Last week, AVGO stock jumped 3%, giving it a month-to-date gain of more than 7%. The relative strength line is also soaring again after a drop, which is a positive sign for the future.
AVGO stock has grown its earnings for four years in a row. In 2022, annual EPS is expected to increase by a whopping 27 percent. Analysts have recently started raising their estimates, which is a good sign.
This comes after the company's profits per share increased by an average of 26% over the previous three quarters.
In 2022, EPS is predicted to increase by 27%, and in 2023, it is expected to increase by another 10%.
It has been getting positive reviews, which is a good sign.
After passing a flat base entry point of 81.49, Marathon Petroleum is now in the buy zone. However, the breakout had a low volume.
The flat base is slightly higher than the previous cup base.
Given the recent outperformance of energy companies, investors may believe that now is a good time to take advantage of the gains.
The stock is trading well above its main moving averages, and the relative strength line is trending upwards.
Due to the impact of the Russia-Ukraine conflict on energy markets, MPC stock has increased by 30% so far in 2022.
The oil refining and distribution sector has a Composite Rating of 95, which is excellent. Earnings are currently trailing price performance.
Nonetheless, progress appears to be on the way in that regard, with green shoots already emerging.
Marathon's fourth-quarter earnings exceeded analyst projections. EPS of $1.30 was more than 130 percent higher than expected, a remarkable performance by any measure.
Investors also approved a $5 billion increase in the company's share repurchase program.
