Volatile action in February rattled tech titans like Tesla (TSLA), Nvidia (NVDA) and Palantir Technologies (PLTR), leading to a changing of the guard on IBD Leaderboard. While Tesla, Palantir and Nvidia have been removed, Netflix (NFLX) and Magnificent Seven stock Meta Platforms (META) stand tall among nine full-fledged Leaderboard members, with Intuitive Surgical (ISRG) on the watchlist.
As the tech-heavy Nasdaq tries to recover from a sharp drop below its 50-day moving average, Meta and Netflix stock test the upper edges of their buy ranges. Meanwhile, as Eli Lilly (LLY) and Fiserv (FI) do the same, TG Therapeutics (TGTX) jumped onto the Leaderboard list on Monday as the stock rockets — with a word of caution for investors.
↑ X NOW PLAYING Out-Discipline The Market: Managing Position Size And Watching Market TrendsIn addition to making the Leaderboard list — which is manually curated by Investor's Business Daily's market experts — Meta, Netflix, Intuitive Surgical and others make multiple, computer-generated stock screens based on The IBD Methodology.
Meta, Netflix, Intuitive Surgical and Agnico Eagle Mines (AEM) all make both the IBD 50 and the IBD Big Cap 20. DoorDash (DASH) and biotech stock GeneDx (WGS) earn a spot on the IBD 50 list of top growth stocks.
On Monday, TG Therapeutics blasted into and beyond buy range, clearing a trendline entry and a 34.58 handle-style buy point.
Drug giant Eli Lilly has climbed to the upper end of its 889.36 to 933.83 buy zone. Like with TG Therapeutics, the relative strength line for Eli Lilly has spiked — a clear sign of market leadership.
While Tesla fell off the IBD Leaderboard watchlist at the end of last month, Meta and Netflix have weathered volatility in the market indexes. Both tech stocks sport the highest-possible 99 Composite Rating as they hold strong near the top of their buy zones.
After coming off the all-time high it notched in February, Meta stock found support at its 50-day line. With the exception of Apple (AAPL), neither Tesla, Nvidia nor any other Magnificent Seven stock can currently make that claim.
Finding continuous support at the 50-day benchmark, Netflix also trades just slightly above the very top of its buy range, which extends from 941.75 to 988.84.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
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