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IBD Screen Of The Day: 4 Top-Notch Global Leaders Near Buy Points

Investors searching for hot stocks to buy or watch should check out IBD Screen Of The Day, a column that focuses on a list of top ideas in the IBD Stock Screener.




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Go to the Research tab at Investors.com and click on IBD Stock Screener. Near the top left side of the page, under IBD Stock Lists, you’ll find 12 lists. All the lists in Stock Screener offer a look at stocks with bullish characteristics.

Today we focus on Global Leaders — with a technical analysis angle. These are some of the best global stocks traded in the U.S.

4 Hot Stocks To Consider

Sibanye Stillwater (SBSW) is about 1% away from a 20.50 buy point of a seven-week consolidation, according to MarketSmith chart analysis. Shares briefly cleared the entry last week before pulling back with the broader market this week.

The base is late stage — not surprising, given Sibanye’s 480% run from its March 2020 lows. But keep in mind that later-stage bases can be more prone to failure than earlier patterns.

IBD Stock Checkup assigns the South Africa-based precious metals miner a 92 Composite Rating, which gives investors a quick way to gauge a stock’s key growth traits. That puts it at the top of the 72-stock gold miners group. A 78 Earnings Per Share Rating, part of the overall composite score, is lower than the 90 minimum of the best growth stocks.

But a 91 Relative Strength Rating means Sibanye is among hot stocks overall — it’s beating 91% of all other stocks. And its relative strength line, which compares a stock’s performance to the S&P 500, is rising and close to its highs.

Tech Gear Leader

Logitech (LOGI) is in potential buy range from a 109.73 entry of a cup with handle, as seen on a daily chart. The buy zone tops out at 115.22. On a weekly chart, MarketSmith shows a 10-week cup base with a 120.34 buy point. Shares are trading less than 6% away from that pivotal entry point.

Note: The cup base is late stage. Logitech stock rallied 283% from its March 2020 low to its February high.

The Switzerland-based maker of computer mice, keyboards and other gear scores a highest possible 99 Composite Rating. That leads the 14-stock computer hardware peripherals group, which includes Dell Technologies (DELL) and HP Inc. (HPQ). A 99 EPS Rating is also best in the group; its 91 RS Rating is eighth.

U.K.-based Rio Tinto (RIO) is building the right side of a nine-week cup base with an 88.83 buy point. The base is second stage, which means Rio could have plenty of room to run after a breakout.

A 99 composite tops the 33-stock metal ores mining group, as does a 95 EPS Rating. Rio’s 76 RS Rating could use some improvement. A move to new highs by its relative strength line at or ahead of a potential breakout would be a bullish sign.

Biotech’s Best?

Horizon Therapeutics (HZNP) is working on the right side of an eight-week consolidation with a 96.64 buy point. It’s about 4% below the entry. The base is late stage, so that’s a possible risk to consider. On a bullish note, most of the consolidation has formed above the 10-week moving average.

The Ireland-based drug developer’s 96 Composite Rating is best in the vast 683-stock biotech group, which includes Amgen (AMGN) and Biogen (BIIB).

An 89 EPS Rating places it among the group’s hot stocks. Horizon notched triple-digit profit gains in the third and fourth quarters of 2020, on sales growth of 90% or better. The biotech reports Q1 results in about two weeks.

Horizon holds a half size position in Leaderboard.

Follow Nancy Gondo on Twitter at @IBD_NGondo

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