The stock market rally continues to show broad-based strength. Investors should be looking across sectors for buying opportunities. Wingstop (WING), Lam Research (LRCX), Halliburton (HAL), Boeing (BA) and JD.com (JD) are all near buy points.
WING stock and JD.com are flashing early entries, while oilfield services giant Halliburton is in a buy range. Lam Research is just below a buy point. Boeing, after a big run, has formed a handle on a big, long consolidation. Halliburton, Boeing and Lam Research have earnings out of the way.
Wingstop was Thursday’s IBD Stock Of The Day. The wings takeout and delivery chain was added to the IBD 50 list of top-performing stocks this week.
WING stock surged 11.4% last week to 157.88.
The Dallas-based aviation-themed chain’s earnings and sales growth has accelerated in the past two quarters, to 55% in Q2 and 41% in Q3. For its fourth-quarter earnings on Feb. 22, analysts expect Wingstop earnings to skyrocket nearly 71% to 41 cents per share, among the company’s implied guidance of 37-39 cents. Sales are seen rising 41% to $100.8 million.
WING stock is in “consolidation,” which is a catchall term for attractive chart patterns that don’t quite conform to proper base definitions. The current trading pattern has a 170.97 buy point, according to MarketSmith.
Investors could use Thursday’s push above Wingstop’s 50-day moving average as an aggressive entry opportunity. A close below the 50-day line would mark an exit point.
Wingstop’s relative strength line has fallen off a bit after moving to highs in early January, but is picking up in the past several sessions. WING stock has an 89 RS Rating out of 99, indicating it’s outperformed most of its peers over the last 52 weeks. The company’s strong earnings translate to a stellar 95 EPS Rating. And it has a 87 Composite Rating, which combines a number of technical indicators into one easy-to-read score.
Fremont, Calif.-based Lam Research is on the IBD Tech Leaders stock list and the IBD Big Cap 20 list. The chip-equipment maker beat quarterly views…