20 Stocks on My Shopping List as the Market Corrects
All these names have what I consider to be strong fundamentals. The main issue is finding good entries.
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After the clubbing that the market suffered on Tuesday, buyers are tentative on Wednesday. There is a little bounce action, and early breadth is slightly positive, but trust levels are low, and many folks are concerned that the worst is not yet over.
When the market is hit as hard as it was Tuesday, there is a good chance there will be another bout of selling. However, there really is no way to know how quickly stocks will find some support.
Here's My Plan
My plan is to have a shopping list of stocks that I want to buy or add at some point. All the names have what I consider to be strong fundamentals. The main issue is finding good entries. My methodology is to make any small buys rather than to try to pinpoint an exact entry point.
Here are some of the top names on my shopping list.
ADMA Biologics ADMA: Extremely strong fundamentals. Support at the top of the gap is at $15.
BridgeBio Pharma BBIO: Good recent news. Should consolidate around $28-29.
ClearPoint Neuro CLPT: Thin. Needs a deeper pullback to support near $11.
CompoSecure CMPO: Holding up well. Needs time to consolidate.
Core Scientific CORZ: Slipping and needs better support around $9.
Delcath Systems DCTH: Had a big run and needs to rest around $10.
Shift4 Payments FOUR: Forming a high-level base. Look for entries around $78.
Fulcrum Therapeutics FULC: Big catalyst later this year. Support around the 200-day at $7.75.
Humacyte HUMA HUMAW: Waiting for FDA decision. Stock is languishing in insider selling and FDA confusion. Should clarify soon. Speculative buy at this point.
Lantheus Holdings LNTH: Has support at the 50-day SMA. I'm slowly building this position.
Altria Group MO: Defensive, dividend play hitting new highs. It is extended but should be a buy on shallow dips.
Mereo BioPharm MREO: Drifting to support around $4.25 while awaiting news.
AdvisorShares Pure US Cannabis ETF MSOS: Off recent lows and likely to flop around for a while while awaiting rescheduling later this year.
Nvidia NVDA: Dip buyers bought the open on Wednesday. See if support holds at $105.
Palantir PLTR: Support around $29.
Powell Industries POWL: Very thin and volatile. Bought the dip at 50-day and will add when market conditions improve.
Sensus Healthcare SRTS: Pattern looks constructive while holding the 50-day. Anticipating a good earnings report.
TG Therapeutics TGTX: Pulled back after a breakout move and is now back in base. Making some add around $22.
Viking Therapeutics VKTX: Back to support at 50-day SMA around $57. Looks like OK support here.
Xeris Biopharma XERS: Sold off due to market conditions. $2.50 looks like good support for accumulation.
There are many other names that I am tracking, but these stocks that I already hold and am looking to increase.
At the time of publication, Rev Shark was long ADMA, BBIO, CLPT, CMPO, CORZ, DCTH, FOUR, FULC, HUMA, HUMAW, LNTH, MO, MREO, MSOS, NVDA, PLTR, POWL. SRTS. TGTX, VKTX and XERS.
Please note that due to factors including low market capitalization and/or insufficient public float, we consider several of the names mentioned to be small-cap stocks. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.
