Stocks Up, Apple Ripe For A New Base: Will These 3 Growth Stocks Break Out?

Stocks Up, Apple Ripe For A New Base: Will These 3 Growth Stocks Break Out?

Major stock indexes staged mild gains in afternoon trading Friday as the Nasdaq composite looked poised for a third up week in a row. Apple ( AAPL ) helped the cause, rising more than 0.5% to 156.80 and inching ever closer to its rising 50-day moving average.

[ibd-display-video id=2359787 width=50 float=left autostart=true]Apple is also trying to climb back a prior flat-base entry at 156.75. Yet given the stock’s mild correction since September, it’s also justified in waiting for a new base to form before executing a new purchase in the iPhone, iPad and digital services titan.

The Nasdaq composite, also benefiting from strength in select retail, electronics, internet and consumer-oriented shares, rallied 0.3%, just ahead of a 0.2% rise for the S&P 500 and the Dow Jones industrial average.

The Dow and S&P 500 are gunning for their fifth straight weekly gain.

Meanwhile, Bioverativ ( BIVV ), IBD 50 member Atlassian ( TEAM ) and Priceline Group ( PCLN ) may help fortify an investor’s watch list.

Earnings from Atlassian are due Thursday after the close. It’s still in buy range from a 39.35 buy point.

Bioverativ, a Biogen ( BIIB ) spinoff making its Nasdaq debut on Feb. 2, turned profitable in 2015 and focuses on rare blood disease. Bioverativ currently shows a 64.51 buy point, 10 cents above the cup’s left-side high.

Priceline is rising on the back of a bullish Q4 travel forecast made by Delta Air Lines (DAL) earlier in the week. Priceline, a giant winner since the March 2009 market bottom, has frequently made the IBD Big Cap 20 in recent years.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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