Investors looking for stocks to buy and watch should check out IBD Screen Of The Day, a column that focuses on the top ideas identified through the IBD Stock Screener.
today Check out the Global Leaders screen, where we find the world’s best companies traded on US exchanges. Contains the current list. Icici Bank (IBN), Flex LNG (FLNG) and Woodside Energy (WDS).
Stocks to buy and watch: Icici
According to IBD MarketSmith chart analysis, Commercial Bank of India Icici has formed a cup-with-handle base with a buy point of 23.12. The stock was down 0.4% on Wednesday. The relative strength line hit new highs last week, showing the S&P 500 index outperforming.
In the most recent quarter, Icici earned 26 cents on sales of $2.39 billion per share, representing year-over-year growth of 24% and 9%, respectively. Between decent fundamentals and great prices in recent weeks. IBN stock has a strong 91 out of 99 IBD Composite Rating, according to the IBD Stock Checkup.
Shares are trading above their 50-day moving average, which is a key level to watch. A successful test of support is likely a precursor to a breakout attempt.
On the flip side, Analysis of the 50-day line will tell investors that the stock’s fundamentals need more time to evolve.
Energy Stocks to Watch: Flex LNG; Woodside
Among energy stocks to buy and watch, Flex LNG is building a rally with a 37.09 buy point. Also playing early entry at 34.66.
But the stock must first recover its 50-day line, which appears as a key resistance level to watch. Shares rose 4% on Wednesday, breaking above the 50-day line. A sharp recovery is positive for the stock’s immediate prospects.
The Bermuda-based LNG transporter and processor focuses on shipping with its LNG carriers and Floating Storage Regasification Units. It currently consists of 13 aircraft carriers.
LNG stock Cheniere Energy is an IBD Leaderboard stock representative, passing a 178.69 buy point in a cup with handle.
Finally, Australian oil and gas explorer and producer Woodside Energy is trading just below the 24.05 buy point. It has a relative strength line at a new high, which is the reason to add this top stock to your watch list.
But wait for a sharp breakout before buying the shares, which fell 0.4% on Wednesday.
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