Investors Can Still Get Into Four IBD 50 Leaders, Including Uber Stock| Investor’s Business Daily

Sometimes you miss a chance to buy a great growth stock but follow-on opportunities emerge. A simple chart tool — the 10-week moving average — does the trick.

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The IBD 50 is showing four market leaders that investors can still pick up because they are in such secondary buy areas. They’ve also seen higher volume on rebounds, according to IBD MarketSmith.

Uber (UBER) broke out of a cup base on May 3 with a buy point of 37.58. Uber stock has had bullish support at the 10-week line ever since in nice volume.

The stock didn’t quite touch the 10-week line but has rebounded well. Before that, Uber stock formed a four-weeks-tight pattern and has cleared the 45.24 buy point.

Sales have grown 29% to 136% over the past seven quarters. But earnings have been mixed, with the ride and delivery stock seeing a loss of 8 cents per share in the most recent quarter.

Uber Stock On Leaderboard

Uber is on the IBD Leaderboard.

Copa Holdings (CPA) broke out of a cup base in May and has traded solidly above the 10-week line level since. Shares pulled back to the moving average the last week of June and the past week, both times finding support.

The current buy area goes from 109.30 to about 120. Just like Uber stock, Copa also formed a four-weeks-tight pattern before the pullback. In all, that’s bullish price action.

The Panama-based airline has a bullish 86% earnings estimate for 2023. A Composite Rating of 99 and strong RS Rating of 94 support the stock’s performance as well.

Sales growth has cooled but still topped 50% the past two quarters. On Thursday, the company reported a 3.1% increase in June’s load factor (the percentage of seats sold) from a year ago.

Inspire Near All-Time Highs

Health care leader Inspire Medical Systems (INSP) rebounded from its 10-week line on May 2 and broke out of a cup with handle the next day at a 277.18 entry.

The stock formed a three-weeks-tight pattern in June as it held steadily above the 10-week line. The past couple of weeks, Inspire made another test of the 10-week line and found success. Shares rose more than 4% last week and are in a buy zone to 341.

Sales growth ranged between 70% and 84% over the past seven quarters, though the company also saw frequent losses during that period. Inspire makes a minimally invasive treatment for obstructive sleep apnea.

Fitness drinks maker Celsius (CELH) is the fourth IBD 50 stock that is actionable now thanks to its 10-week line. Celsius dipped to 10-week average, and climbed more than 4% for the past week. A buy zone goes as high as 154.80.

This is yet another growth company that has had strong sales growth in the past seven quarters while the bottom line has been mixed.

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