Facebook Inc. (NASDAQ:FB) Stock Is A Good Buy
Shareholders of Facebook (NASDAQ:FB) will be more than happy with the kind of run FB stock has had this year. FB stock is up by nearly 50% this year, beating the Nasdaq Composite (INDEX:COMPX) by more than a factor of 2. The strong bull run can lure investors to book profits in their FB stock. However, is now a good time to take money off the table? Well, if the Facebook stock technical chart is anything to go by, Facebook stock is headed higher in the near term. Here is why.
The Facebook stock technical chart has flashed a number of bullish signals over the last few days, implying that the uptrend in Facebook stock could continue over the next few trading sessions. Facebook stock price broke out above the 50-day and 20-day moving averages last Thursday, which was the initial indication of the bullish momentum in the name. The SMA crossovers were followed by a bullish signal from the moving average convergence divergence (MACD) indicator, which is a popular momentum indicator used by technical traders. In a bullish MACD crossover, the MACD line cut the signal line from below, which is further proof that the recent uptrend in FB stock will continue over the next few days. With both the RSI as well Bollinger Bands indicators showing that Facebook stock price is still some distance away from entering the overbought territory, Facebook stock price should continue on its upward trajectory.
Tesla Inc. (NASDAQ:TSLA) Slips Into Oversold Zone
Shares of Elon Musk-led Tesla Inc (NASDAQ:TSLA) are now in the oversold territory, which makes Tesla stock the second of our top stocks to buy today. Tesla stock has rallied through the first few days of this month, which comes on the back of a steep fall through the latter half of last month (September 2017). Tesla stock broke above the 100-day and 50-day simple moving averages (SMAs) last week, which implies that the stock has, more likely than not, printed a bottom. With the stock now facing resistance from the 20-day SMA, is Tesla stock a good buy?
Well, if the Tesla stock technical chart is to be believed, Tesla stock price will move higher over the next few sessions. Why? According to the Relative Strength Index (RSI), a popular indicator used by traders to find oversold/overbought conditions, Tesla stock is now in oversold territory. TSLA stock currently has an RSI reading of 27.75, which is well below the threshold of 70 used to identify oversold securities. Moreover, Tesla stock investors should also take note of the fact that the stock is on the verge of completing a bullish MACD crossover, with the MACD line converging on the signal line from below. Hence, investors should keep a close watch on the MACD indicator as well. In the context of multiple bullish signals, a continuation of the recent upward momentum in Tesla stock price will not be much of a surprise.
Alibaba Group Holding Ltd. (NYSE:BABA) Stock Is Still A Good Buy
Jack Ma led - Alibaba Group Holding Ltd. (NYSE:BABA) has had a phenomenal run on the bourses. Shares of the Chinese e-commerce to cloud giant are up by a staggering 104% year-to-date, crushing the broader market performance. Given the kind of solid bull run Alibaba stock has had, it would be hard to believe that the stock is still a good buy. But, the stock is the third name on our list of 'Best Stocks To Buy Today', implying that the stock still has some near-term upside left. At least, that's what we think. Why? The Alibaba stock technical chart holds the answer.
As can be seen from the Alibaba stock technical chart, the stock is currently trading above all the key moving averages, which makes now a good time to go long the stock. Secondly, Alibaba stock technical chart recently flashed a bullish MACD crossover, with the MACD line rising above the signal line, which implies that there is room for some near-term upside in Alibaba stock price. In addition, neither the RSI indicator nor the Bollinger Bands indicator imply that Alibaba stock price is anywhere close to overbought territory. Hence, the uptrend in Alibaba stock price could continue over the next few trading sessions.
If you're looking for more such technical trading ideas, check out our daily trading ideas section. If you're also looking to discover fundamentally solid tech stocks, you should check out our top stock picks from the tech sector, which have beaten the NASDAQ by over 155%. Interested in automotive stock? Then, we also have our top picks from the auto sector, which have beaten the S&P 500 by over 283%.