Finance

 Stocks that are showing bullish action as the market rally gains steam 

Some stocks are just preparing for the offensive! Here are some stocks that are rising in value considering recent periods.

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As the market continues to rally, there are some stocks that are beginning to show bullish behavior.

These stocks may be worth investing in for those looking to make a profit.

In this article, we will be discussing some of these stocks in order to help you make a decision.

A word of warning, this is a more advanced article with some indicators, if you are not familiar, no worries, keep studying and improving and you will not lose any opportunity.

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Global Foundries

Even with a quiet Friday session, GlobalFoundries stock prices increased by 4% from the previous week.

GFS stock is still below a very deep double bottom base’s handle buy point of 66.06.

On August 12, after GlobalFoundries’ income peaked following a tremendous surge in July, the pattern began to take shape.

The GlobalFoundries handle just found support at the 200-day moving average. A break from the handle’s downward trend, which is still relatively near to the 21-day line, might be used by aggressive investors as an early entrance.

The GFS handle should ideally mature into a solid basis all on its own.

The RS line for GFS stocks is about to reach new highs, which is a promising technical indication.

Chip foundries, like GlobalFoundries in New York, produce semiconductors for firms that produce error-free chips.

GFS shares appeared on the Nasdaq in October 2021, amid predictions that a global chip scarcity could endure until 2023 or beyond. It focuses on the less sophisticated but nonetheless necessary semiconductors that contributed to the chip crisis.

The IBD Composite Rating for GFS stock is 91 out of 99. Additionally, it has a Relative Strength Rating of 91, which indicates that over the last 12 months, it has outperformed 91% of all the stocks in the IBD database.

On a sequential basis, however, GFS’s earnings per share have increased consistently during the last three quarters. During that time, revenue growth ranged from 23% to 74%.

Paylocity Holding Corp

On Friday, Paylocity shares increased 3.4% to 258.45, marking the fourth straight day of gains. PCTY stock jumped 9.6% for the week, rebounding powerfully barely above the 10-week moving average.

The action comes after three negative weeks in which Paylocity pulled down following an earnings gap-up on August 5.

With a 276.99 buy target, the most recent decline in PCTY stock might be considered as a handle in a protracted consolidation. In another week, it might establish itself as a basis.

Paylocity receives a 98 EPS Rating, a 95 RS Rating, and a nearly flawless Comp Rating.

Earnings per share at Paylocity increased from 39% to 74% during the previous five quarters. Revenue growth ranged between 28% and 37% over the same time.

The provider of workforce management software targets firms with fewer than 50 employees and differentiates apart from the competition due to its connection with 401(k) experts.

After a strong breakout in July 2021, PCTY stock increased by more than 50%.

Wolfspeed Incorporated

Following an earnings gap-up on August 18, Wolfspeed, a different semiconductor firm, has been consolidating with a 123.35 purchase point. This action might be seen as a handle in a larger consolidation that dates back to late March or possibly late November.

WOLF stock has a score of 59 EPS, 96 RS Rating, and 88 Comp Rating.

In August, the North Carolina-based chip maker provided a revenue forecast that beat analysts’ estimates

Wolfspeed was dubbed a top chip stock for 2022 by Piper Sandler analyst Harsh Kumar earlier this year. Since electric cars typically use a lot more chips than conventional cars, he anticipates that the tech stock will profit from the global adoption of these vehicles.

Palo Alto Network

Palo Alto Networks’ stock rose for a third straight day on Friday, increasing 3.2% to $565.77. For the week, PANW stock rose 4.7%.

With a buy target of 578.89, the cybersecurity stock has created a cup-and-handle base. On September 6, it established support near the 50-day moving average, and the uptrend in the grip formation and subsequent break above the 200-day line allows for an early entrance.

The Comp Rating for PANW shares is 94, the RS Rating is 88, and the EPS Rating is 95.

The cyber-giant with headquarters in California just announced its third straight quarter of rising earnings growth. Additionally, Palo Alto Networks raised its guidance and disclosed a 3-for-1 stock split.

Arista Networks

Arista Networks increased for the fifth session in a row on Friday, adding 1.3% to 124.41. ANET stock gained 6.1% for the week, regaining the 200-day and 21-day lines as well as moving over the 10-week moving average.

Cloud networking software and gear supplier Arista shares have a perfect 99 Comp Rating, 94 RS Rating, and 96 EPS Rating.

It demonstrates three-quarters of rapid revenue growth, which was capped by a 59% increase in EPS and a 49% increase in sales in the most recent quarter.

This leading IT stock is anticipated to gain from the expansion of data centers. High-end Ethernet switches from ANET speed up communication across server racks.

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