Many leading stocks have given up most, if not all, of their post-breakout gains, as the broader market continues its two-week slide.
But these five names are bucking the downtrend and retaining big gains or holding above their buy points, with no red flags.
Ulta Beauty (ULTA) is extended from a 188.58 buy point initially cleared March 11. Shares gapped up 11% that day, after the beauty store operator reported fiscal Q4 earnings and revenue that grew 27% and 21%, respectively, topping views. Same-store sales rose 12.5%. The stock has made a remarkably steady advance since the breakout, hardly flinching as the main indexes have fallen.
Edwards Lifesciences (EW) has eased a bit the past two weeks but is still in profit-taking range from a February breakout past an 83.53 buy point. It has pulled back into buy range from an April 4 gap-up past a 90.03 entry, where an investor could buy shares near the opening price that day. But the chances of making solid gains are much greater when the market is in a confirmed uptrend.
New Oriental Education & Technology (EDU) is close to reaching a 20% gain from the 33.01 cup-with-handle buy point cleared in March. The stock had passed that goal last week, but it has since given back some ground. The Chinese provider of language training and test prep courses scores high grades across the board. Fidelity Contrafund (FCNTX) held shares in Q1, a sign that top institutional investors are favoring the stock.
B&G Foods (BGS) made a new high Wednesday and has become extended from a 40.60 cup-base entry. Investors will need to wait for the stock to ease back into buy range or set up another buy area before considering whether to purchase the stock. Shares surged 23% Friday, after the packaged foods maker reported Q1 profit well above views and raised its full-year outlook.
Facebook (FB) hasn’t taken off since gapping up April 28 on a strong quarterly report. But it’s hanging in there and remains in buy range just above a 117.98 handle entry.