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Growth Stocks Showing Strength With Semiconductors Leading

The market has shown increasing strength the last two sessions with many semiconductor stocks showing impressive action and breaking out to new highs on volume. Some of these include AMAT, KLAC, QRVO, and ENTG. MKSI is also performing well. Strength inside the semiconductor space makes sense given the current shortage of semiconductor chips.

Other stocks of interest include Pinterest, Upstart, and SAM. Pinterest was a big winner in 2020 and looks like it may be a leading stock in 2021. Although the chart is a little sloppy, I really love the fact that PINS held above its' 200-day moving average while NIO, PTON, and other growth stocks took a dive in March. While it may need some time to sharpen up, PINS is definitely a stock to watch in the coming weeks, especially if it can stay above its' 50-day moving average.

Recent IPO Upstart is also showing signs of potential leadership. After a large gap up in March, UPST has been consolidating on very low volume, indicating that the move may just be beginning.

INMD is also a stock that has many characteristics of a winner. I really love the way this one has continued to find support at its' 50-day moving average. With accelerating earnings, sales, and after-tax margins, Inmode looks like it may have what it takes to succeed in 2021.

Finally, Airbnb is another stock I will be monitoring closely in the coming weeks. This recent IPO has been on my watchlist for quite some time. I believe this stock has enormous potential as the world begins to reopen.

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Full Disclosure: I currently own many of the stocks mentioned in this post.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


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