The current lineup of IBD Leaderboards covers a wide range of sectors, from technology, energy and chemicals to transportation, mining, biotech and healthcare. Tech stocks included Tesla (TSLA), Nvidia (NVDA) and Microsoft (MSFT). Join TSLA stock Solar Edge Technologies (SEDG) Among the names on the leaderboard exploring new buying areas as a drive-through coffee chain Dutch Bros. (BROS) is creating a new setup.
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Since Tesla jumped nearly 5% at the start of the week, CEO Elon Musk had a 9.2% share. Twitter (TWTR).
Meanwhile, Solar Energy Sports SEDG stocks have re-entered a purchasing territory as financial asset managers. Black stone (BX) checks a renewal entry. Both SolarEdge and Blackstone make their mark on the leaderboard watchlist.
Reflects the ongoing sector rotation in recent months, Chenia Energy (LNG), steel producer Nukor (NUE) and gold mining Newmont (NEM) showed strength, while more traditional growth stocks lagged in the first quarter.
This has undermined the performance of the innovator IBD50 ETF (FFTY), which tracks the names of IBD50s. Since peaking in November, the FFTY ETF returns to a new low in February, falling below its 10-week moving average. But as growth and technology stocks such as Tesla and NVDIA stocks find their way back to the IBD 50, the FFTY ETF has regained that line as it looks to rebuild.
See who joins Tesla and Nvidia on the IBD leaderboard
Tesla, Nvidia Lead stocks build bases and buy Zone 8
As stock market indices continue to build on March 16 follow-through, rising stocks such as Tesla, SolarAge and Nvidia are encouraging to see the strength of the stock.
Tesla continues to zoom higher on Mondays because it works on a cup-shaped base. The move comes as TSLA stocks are handling a handle in 4 days, which takes at least five days to prepare. Cup by point is 1,208.10.
In March, SolarEdge briefly cleared a cup-with-handle buy point of 335.67. It has been pulled since then, but is checking that entry again. The relative strength line has shown impressive progress overall since coming down from the bottom in late January.
After a sharp fall since November, Nvidia has moved well from its lows to recover its 50-day moving average. This line is above its 200-day benchmark and has started a higher trend. NVDA stock cleared the trendline entry of 272.38. It remains in a buying area that extends to 286.00.
As the market moves up, be sure to keep an eye on Blackstone, Arista Networks (A net), Eli Lily (LLY), BROS stocks and other top stocks to buy and view on Leaderboard and other IBD stock lists.
Follow Matthew Galgani on Twitter @IBD_MGalgani.
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