What do leading growth stocks PayPal (PYPL), Crocs (CROX), Logitech (LOGI), InMode (INMD), ASML (ASML), Generac (GNRC) and Deere (DE) have in common? They’re all among the names on the IBD Breakout Stocks Index.
360 DigiTech (QFIN), which has emerged from its 2018 IPO as one of the leading Chinese stocks to watch, also joins the ranks. Fellow Chinese stock JD.com (JD) also makes the list as it tests a new buy zone after breaking out in January.
Despite running into some selling pressure in the second half of February, the stock market has so far kept its current rally alive. Riding that continued market uptrend, PYPL, CROX, INMD, GNRC and QFIN are extended beyond their ideal buy zones.
Headquartered in Luxembourg, Ternium makes steel products for the manufacturing industry. TX stock broke out of a cup-with-handle base last August. It rose 79% from entry until pulling back in January to form a new cup-shape chart pattern. On Tuesday, Ternium poked its head into a buy zone as cleared a 34.09 buy point in volume 83% above average.
In a sign of stock market leadership, the relative strength line for TX stock has already hit a new 52-week high.
Element Solutions makes a broad range of specialty chemicals used in the electronics, metal and plastic plating, and graphics arts industries. Like TX stock, ESI stock made a nice run from its most recent breakout, rising 57% from October to January before hitting resistance. The Florida-based company is now working on a chart pattern with a 19.50 buy point.
Find Today’s Top Growth Stocks On IBD’s Top Stock Screens
In addition to making the cut for the IBD Breakout Stocks Index, many of these leading growth stocks are on IBD’s top stock screens.
As the market kicked off a solid start to 2021, these computer-generated stock lists have far outperformed the S&P 500. QFIN stock and INMD stock both earned spots on Sector Leaders, which gained 19.8% in January and February, trouncing the S&P 500’s 1.5% gain during the same period. The IBD 50 list of top growth stocks and the IBD Big Cap 20 also more than doubled the S&P.
IBD Breakout Opportunities ETF
The IBD Breakout Opportunities ETF from Innovator Capital Management tracks the IBD Breakout Stocks Index. As with other index ETFs, this allows you to essentially invest in the entire index in addition to or rather than buying individual stocks. Learn more here about the ETF and Innovator funds.
Follow Matthew Galgani on Twitter at @IBD_MGalgani.
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