When I began to film today’s video, the Nasdaq was hovering near its record high. That also means breakout stocks have the chance to move even higher, and there are three names I think are worth our while…
Well, each has a specific job they do…
The first breakout stock, for example, lets anyone set up an online store and sell products wherever they are. That’s great because a lot of people are working from home… expanding job prospects… and basically doing whatever they want.
So let’s stop wasting time and get right into the three hot breakout stocks worth watching…
3 Hot Breakout Stocks Worth Watching
But before I get too deep, I want you to give you a disclaimer that these aren’t day trading positions.
They’re position trades, not swing trades. And stocks I think will outperform over the next quarter, so you need to give them a little wiggle room as far as hold time. Now, I will give you some price targets. But again, make sure you give these stocks some time to move.
It takes time for a stock to generate momentum and start moving…
That being said, the first hot breakout stock worth watching is Shopify Inc. (NYSE: SHOP)!
Shopify is a subscription-based service that gives people a quick way to launch their business and start selling products. Let’s say you want to sell tennis shoes online. You’d contact Shopify and they’d set up a card platform to match your website design. The next thing you know, you’re making money!
I know setting up an e-commerce site is easy for people in the industry. But for lay people, it isn’t…
So Shopify has been getting a lot of new clients lately. In fact, its share price has seen a 55% increase in the past 12 months.
I like how the stock is consolidating and congesting right now, so I have a price target of about $1,750 per share on Shopify over the next 12 weeks if momentum levels continue to strengthen.
Check out my short video below to reveal the next two hot breakout stocks worth watching. And if you plan on trading any three of these names, let me know why in the comments section at the bottom of this page.
Don’t forget to subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video!
P.S. Everyday traders have got to check this out!
Stock market expert and Forbes contributor Adam Sarhan is finally giving a handful of folks access to his Alpha Trades system…
It’s a group of special stocks that only a select few even know about… all with the potential to earn traders triple-digit gains in as little as 24 hours!
In fact, Adam has already found another stock on the move… and he says it’s showing clear signs for exceptional growth.