Buying a stock is deceptively easy, but purchasing the right stock at the right time without a proven strategy is incredibly hard. So, what are the best Robinhood stocks to buy now or put on a watchlist?
At the moment, Apple (AAPL), Microsoft (MSFT) and Google parent Alphabet (GOOGL) are standout performers. Unlike misfiring meme stocks such as GameStop (GME) and AMC Entertainment (AMC), these stocks offer a mix of solid fundamental and technical performance.
Best Robinhood Stocks To Buy: The Crucial Ingredients
There are thousands of stocks trading on the NYSE and Nasdaq. But to generate big gains you have to find the very best. The best Robinhood stocks for investors will be those that offer a mix of earnings and stock market performance.
The CAN SLIM system offers clear guidelines on what you should be looking for. Invest in stocks with recent quarterly and annual earnings growth of at least 25%. Look for companies that have new, game-changing products and services. Also consider not-yet-profitable companies, often recent IPOs, that are generating tremendous revenue growth.
The Market Is Key When Buying Robinhood Stocks
A key part of the CAN SLIM formula is the M, which stands for market. Most stocks, even the very best, follow the market direction. Invest when the stock market is in a confirmed uptrend and move to cash when the stock market goes into a correction.
A stock market rally that kicked off 2022 soon fell on its face. The market is now trying to rally again following bearish recent action. The Nasdaq has reclaimed the 50-day moving average while the S&P 500 is above both the 50-day and 200-day lines. The Dow Jones Industrial Average has also been making progress.
With the market back in a confirmed uptrend now is a good time to be making new buys. Investors should take action to increase exposure now, though a gradual approach makes sense given the volatility of the past few months. The stocks below are potential candidates.
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