The 5 Best Stocks To Buy And Watch Right Now (2023)

Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist? Occidental Petroleum (OXY), Pure Storage (PSTG), Livent (LTHM), Texas Roadhouse (TXRH) and Shift4 Payments (FOUR) are prime candidates.


With inflation worries high, and the Federal Reserve tightening rates aggressively, market action has been challenging so far in 2022. The Russian invasion of Ukraine also continues to weigh on markets.

Best Stocks To Buy: The Crucial Ingredients

Remember, there are thousands of stocks trading on the NYSE and Nasdaq. But you want to find the very best stocks right now to generate massive gains.

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.

IBD's CAN SLIM Investing System has a proven track record of significantly outperforming the S&P 500. Outdoing this industry benchmark is key to generating exceptional returns over the long term.

In addition, keep an eye on supply and demand for the stock itself, focus on leading stocks in top industry groups, and aim for stocks with strong institutional support.

Once you have found a stock that fits the criteria, it is then time to turn to stock charts to plot a good entry point. You should wait for a stock to form a base, and then buy once it reaches a buy point, ideally in heavy volume. In many cases, a stock reaches a proper buy point when it breaks above the original high on the left side of the base. More information on what a base is, and how charts can be used towin big on the stock market, can be found here.

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(Video) 5 Top Stocks to Buy in November 2022

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Don't Forget The M When Buying 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 uptrendand move to cash when the stock market goes into a correction.

A stock market rally that kicked off 2022 soon fell on its face. While the market battled back amid a better than expected earnings season, the previous uptrend failed amid disappointing inflation data. But the market is rallying back, with the S&P 500, the Nasdaq and the Dow Jones Industrial Average all powering off lows for the year. A key test awaits as the Federal Open Market Committee gets set to meet to discuss interest rates.

The market is now back in a confirmed uptrend. Nevertheless, you should raise exposure gradually as there is still a chance this will not lead to a sustained climb. Focus on fundamentally strong stocks coming out of sound chart patterns, such as those in the IBD 50. These names will tend to have rising relative strength lines. The stocks below are good candidates.

Stay disciplined and stick to sound buy and sell rules. In addition, continue to stay on top of sell signalsas not every trade will work out, even in an uptrend. Any stock that falls 7% or 8% from your purchase price should be jettisoned. Also beware of sharp breaks below the 50-day or 10-week moving averages.

Remember, there is still significant headline risk. Inflation remains a key issue while the Russia-Ukraine conflict is a wild card that has proved its ability to shake the market.

Things can quickly change when it comes to the stock market. Make sure you keep a close eye on the market trend page here.

Best Stocks To Buy Or Watch

  • Occidental Petroleum
  • Pure Storage
  • Livent
  • Texas Roadhouse
  • Shift4 Payments

Now let's look at Occidental Petroleum stock, Pure Storage stock, Livent stock, Texas Roadhouse stock and Shift4 Payments stock in more detail. An important consideration is that these stocks all boast impressive relative strength.

Occidental Petroleum Stock

The Warren Buffett stock is in a buy zone after previously crossing the 72.14 buy point from a cup-with-handle base, according to MarketSmith analyis.

Shares are trading above their 50-day line and well above their 200-day moving average, both bullish signs.

Adding further to the encouraging picture, the relative strength line is hitting new highs. This compares a stock's performance to the S&P 500.

The stock is up more than 138% so far this year, far outperforming the broader stock market.

While price performance is top class, earnings are also improving. The stock currently has an EPS Rating of 80, and earnings grew by 888% in the most recent quarter.

Analysts predict Occidental will report a profit of $10.24 per share in 2022, up more than 300% from last year. Sales are expected to jump 43% to $37.3 billion over the same period.

The company reports Q3 results on Nov. 8, with consensus for earnings of $2.50 per share, according to FactSet. That would mark an impressive 185% year-over-year growth surge.

Warren Buffett is a major fan of Occidental. His firm Berkshire Hathaway has increased its OXY stake to 20.9%, with warrants that could bring the stake up to more than 25% of outstanding shares, according to SEC filings.

This comes after the Federal Energy Regulatory Commission (FERC) granted Berkshire approval on Aug. 19 to purchase up to 50% of the energy giant.

AWall Street Journal reportspeculates that, given "Berkshire Hathaway's value-driven DNA, though, it might take a big drop in oil prices to prompt an acquisition of that scale."

(Video) Top 5 Stocks the Smart Money is Buying in the 2022 Crash

Oil and gas stocks have consistently outperformed the 2022 market and Houston-based Occidental Petroleum is one of the top S&P 500 performers. It has benefited from higher fuel prices, triggered by inflation and Russia's invasion of Ukraine in February. However, crude oil has slumped since peaking in June, dropping below $85 per barrel earlier this week.

The firm's primary business in oil, natural gas liquids and natural gas hasn't been dented, at least so far. On the other hand, the heavyweight has a petrochemicals segment that has struggled since home sales have imploded.

The Oxychem division makes PVC pipe and is one of the three largest suppliers. This chlorinated hydrocarbon and plumbing product is made from natural gas and salt.

Pure Storage Stock

PSTG stock is also one of the best stocks to buy or watch now. It has just cleared a consolidation pattern buy point of 31.62. The base, which started on Aug. 18, is within a much-larger consolidation.

The RS line has just hit a consolidation high, a positive sign. It has also reached its highest level in seven months.

Excellent all-around performance is reflected in its IBD Composite Rating of 93 out of 99. Earnings are its biggest strength, with the stock holding a rare perfect EPS Rating.

It is also in the top 11% of stocks in terms of price performance over the past 12 months.

According to IBD Stock Checkup, Pure Storage ranks first out of 10 stocks in IBD's Computer-Data Storage industry group.

The Mountain View, Calif.-based company makes high-speed storage systems for businesses and cloud-computing services using all-flash chip technology.

Pure Storage says it has 10,500 customers worldwide, including 56% of the Fortune 500 companies.

It is a beneficiary of the billions of dollars that Facebook owner Meta Platforms (META) is spending to build the metaverse.

Two months ago, the company reported better-than-expected results for itsfiscal second quarterended Aug.7.

Its revenue jumped 30% from the year-earlier period to $646.8 million. Subscription services revenue grew 35% to $232.2 million. And it posted adjusted earnings of 32 cents a share, up 128%.

The company guided for third-quarter revenue of $670 million, ahead of analyst estimates by 3% and up 19% from the year-earlier period. For its fiscal year 2023 it expects revenue of $2.75 billion, topping views for $2.6 billion.

"Our portfolio continues to be strong despite a turbulent macro environment," Chief Financial Officer Kevan Krysler said during the company's second-quarter earnings conference call. "Our U.S. business continues to deliver strong revenue growth."

Its products, such as Pure Fusion, enable customers and cloud service providers to implement a cloud operating model for data storage management and offerings.

Looking For The Next Big Stock Market Winners? Start With These 3 Steps

Livent Stock

Livent stock is holding right at its 10-week and 50-day moving averages. A solid jump above its 50-day line could offer an early entry point for aggressive investors.

It has also formed a consolidation pattern. The potential buy point here is 36.48.

(Video) Discounted Stable Stocks to buy right now! Best stocks to invest in 2022!

Livent previously raised full-year revenue guidance to a range of $800 million to $860 million, up from $755 million to $835 million. All eyes will be on the lithium producer's progress when it reports Q3 earnings after the close Tuesday. Lithium giant Albemarle (ALB), which has a similar chart, reports late Wednesday.

An approach highlighted by Investor's Business Daily is touse options as a strategy to reduce risk around earnings. It's a way to capitalize on the upside potential of a stock's move around earnings, while reducing the downside risk.

In an earnings preview, Deutsche Bank analyst Corinne Blanchard wrote that Livent "has been relatively conservative in its contract structure," with limited exposure to spot prices. However, with increased capacity coming online from its Argentina operations, Livent may get more exposure to higher prices, she wrote.

The spot price for lithium carbonate in China rose to nearly $78,000 per ton last week, an all time high and up about 130% on the year.

That follows a prediction from Morgan Stanley earlier this month that the current lithium supply deficit will turn to a surplus next year. By 2024, spot lithium prices would fall by about 75%.

Other industry specialists have panned predictions like Morgan Stanley's, arguing that optimistic lithium supply projections almost never pan out. Mining timelines get pushed out and quality issues often arise.

Still, lithium stock skeptics have another arrow in their quiver now. The issue isn't just a potential oversupply, but a coming hit to demand from a possible global recession.

Texas Roadhouse Stock

Texas Roadhouse is trading in a buy zone after previously clearing a flat-base entry point of 95.52. It comes after it previously broke past an early trendline entry.

TXRH stock undercut its buy point on Friday following earnings, but rebounded from its 21-day line to close down just 4 cents at 98.71. It is now moving higher still.

The relative strength line for TXRH is remarkable, making new highs for months. This is especially impressive as retail and consumer-spending sector leaders are few and far between.

Overall powerful performance is reflected in an IBD Composite Rating of 93. The stock has seen its price pop by over 13% over the past four weeks alone.

Texas Roadhouse's first shop opened in Indiana, very close to its current headquarters of Louisville. It follows a simple strategy: Provide a fun, family friendly dining experience with great value.

The pitch has one plenty of institutional support, with 63% of its stock currently being held by funds.

The casual dining specialist has over 680 locations in 49 states and 10 foreign countries. It also operates under the Bubba's 33 and Jaggers names.

The firm currently boasts average EPS growth of 14% over the past three quarters. Texas Roadhouse has also posted average EPS growth of 43% over the last three years.

The purveyor of hearty fare likeTexas Size Combos and Fall-Off-The-Bone Ribs reported Q3 earnings after the close on Oct. 27.

A 24% EPS increase in the third quarter of 2022 comes on top of 79% growth in the same quarter a year ago. Quarterly sales have averaged 36% year-over-year growth over the past six quarters through Q3 this year. A recent study by research firm notes that Texas Roadhouse is one of the best-performing U.S. restaurant brands in terms of visits, up 27% in the third quarter vs. the same period in 2019.

Earlier this month Wedbush hiked its price target on Texas Roadhouse stock to 98 from 95 while maintaining an outperform rating. The firm noted "consistent market share gains' for the dining chain.

Fed Pivot Hopes Face Big Test

Shift4 Payments Stock

Payments stock FOUR built a bottoming base that goes as deep as 14% below its entry point. It is offering a buy point at 51.52.

(Video) 5 Top Stocks to Buy in November 2022! (Beat the Recession)

In addition, investors should watch for a strong move above its 50-day or 200-day moving averages. The Oct. 20 high of 48.66 might offer a specific early entry.

The relative strength line for Shift4 stock is looking stable. A sharp upwards thrust would be desirable at this point.

Improving technical performance has lifted its IBD Composite Rating to 75 out of 99.

It remains down about 22% so far in 2022, so it has plenty of ground to make up. Earnings are not ideal though, despite the fact EPS popped by 30% in the most recent quarter. Analysts see full-year EPS popping by 87% in 2022 and by 50% in 2023.

Shift4 is set to report third-quarter earnings on Nov. 7. Investors may want to be cautious ahead of the earnings report.

Shift4 gets most of its revenue from customers in the hotel and restaurant industries as well as casinos. It has expanded into sports stadiums, airlines and charitable giving as well as food and beverage companies. One new customer is Elon Musk's satellite broadband service Starlink. It operates in 20 countries.

Acquisitions have played a part in Shift4's strategy. To help drive international expansion, Shift4 in early 2022 announced the acquisition of Finaro for $575 million. Finaro is a pan-European cross-border e-commerce platform with banking licenses in Europe, Japan and Hong Kong.

The Finaro purchase is expected to close by year-end.

Also, Shift4 acquired software maker VenueNext for $72 million in March 2021 as it targets sports stadiums.

Another part of Shift4's strategy involves growth in "gateway" services. Gateway software connects a merchant's business operations with Shift4's payment platform, said EugeneSimuni, analyst at MoffettNathanson.

"Shift4 provides gateway services to a large share of the U.S. lodging industry, but is the payment processor for a much smaller share of lodging customers," Simuni told IBD in an email. "So, Shift4's strategy is to convince its gateway-only customers to switch to using Shift4 as the end-to-end (payments) processor."

Gateway processing accounts for 10% of Shift4's revenue. Overall, the company garners 70% of its revenue from end-to-end payment processing and the rest from subscription software.

Please follow Michael Larkin on Twitter at@IBD_MLarkin for more analysis of growth stocks.


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What are the top 10 stocks to buy right now? ›

The 10 Best Stocks as of November 2022
  • Comcast CMCSA.
  • Equifax EFX.
  • Anheuser-Busch InBev BUD.
  • TransUnion TRU.
  • Masco MAS.
  • Guidewire Software GWRE.
  • Walt Disney DIS.
  • International Flavors & Fragrances IFF.
5 days ago

Which is best share to buy in 2022? ›

List of Top 5 Shares to Buy in 2022
Company nameCurrent share price
Reliance Industries Ltd₹2433
Metropolis Healthcare Ltd₹1567
Balaji Amines Ltd₹3236
Infosys Ltd₹1451
1 more row
25 Oct 2022

Which is best stock to buy today? ›

  • Hemani IPO.
  • Corrtech IPO.
  • Paymate IPO.
  • Rustomjee IPO.
  • Senco Gold IPO.
  • Rainbow IPO.
  • Sterlite IPO.
  • Fincare IPO.

Where should I invest 1000 right now? ›

Investing in ETFs, purchasing fractional shares, opening an account with a robo-advisor, funding an IRA, or even kickstarting your own online business are just a few ways you can invest $1,000 right now.

Which stocks will boom in 2022? ›

A Closer Look at the Best Growth Stocks to Invest in 2022
  • Lucky Block - Start-Up Blockchain Asset Decentralizing the Lottery Industry. ...
  • Meta Platforms - Best Growth Stock to Buy Now for Exposure to the MetaVerse. ...
  • Tesla - Tesla - Top Growth Stock for the Future of Electric Cars.
24 Mar 2022

What is the fastest growing stock in 2022? ›

Fastest Growing Stocks
Price ($)Revenue Growth (%)
American Airlines Group Inc. (AAL)12.7179.5
Equitable Holdings Inc. (EQH)28.2975.2
Marriott Vacations Worldwide Corp. (VAC)126.5018.9
2 more rows

What stock should a beginner buy in 2022? ›

Here are the 15 best stocks for beginners to buy in 2022:
  • Amazon (NASDAQ: AMZN)
  • Alphabet (NASDAQ: GOOG)
  • Apple (NASDAQ: AAPL)
  • Costco (NASDAQ: COST)
  • Disney (NYSE: DIS)
  • Meta (NASDAQ: META)
  • Mastercard (NYSE: MA)
  • Microsoft (NASDAQ: MSFT)

What's the smartest way to invest $1000? ›

The Best Ways to Invest $1,000 Right Now
  • Stocks & ETFs. ...
  • Use a Robo-Advisor. ...
  • Chip Away at High-Interest Debt. ...
  • Use Real Estate Crowdfunding Sites. ...
  • Invest in U.S. Treasury Securities. ...
  • Use a High-Yield Savings Account. ...
  • Consider Alternative Assets. ...
  • Invest In New Skills.
28 Sept 2022

Where should I invest $2000 right now? ›

7 ways to invest $2,000
  • Index funds. ...
  • Actively managed funds. ...
  • Robo-advisors. ...
  • Stocks. ...
  • 401(k)s and IRAs. ...
  • Real estate investment trusts. ...
  • High-yield savings account.
25 Aug 2022

How can I make 5000 Fast? ›

19 Easy Ways to Make $5,000 Fast
  1. Rent a Home, Car, or Storage Space.
  2. Sell High-Value Items.
  3. Make Deliveries.
  4. Invest in Stocks.
  5. Sell Stuff Online.
  6. Freelancing.
  7. Drive for Uber or Lyft.
  8. Real Estate Investing.
20 Oct 2022

Which stock is best for future? ›

Best Stocks to Buy in India for Long Term
  • Reliance Industries. Multinational Conglomerate.
  • Tata Consultancy Services (TCS) Information Technology.
  • Infosys. Information Technology.
  • HDFC Bank. Banking.
5 days ago

What is the safest investment right now? ›

Here are the best low-risk investments in November 2022:
  • High-yield savings accounts.
  • Series I savings bonds.
  • Short-term certificates of deposit.
  • Money market funds.
  • Treasury bills, notes, bonds and TIPS.
  • Corporate bonds.
  • Dividend-paying stocks.
  • Preferred stocks.
6 days ago

What stocks should I buy in February 2022? ›

AMD, EPAM, MASI, RGEN, & TER represent top stocks to buy now for February 2022.

What stock should a beginner buy? ›

These stocks are beginner friendly and can be great core holdings for a new stock portfolio.
  • Berkshire Hathaway Inc. (ticker: BRK. B, BRK. A)
  • Apple Inc. (AAPL)
  • Microsoft Corp. (MSFT)
  • Alphabet Inc. (GOOG, GOOGL)
  • Coca-Cola Co. (KO)
  • Costco Wholesale Corp. (COST)
  • Pfizer Inc. (PFE)
  • AT&T Inc. (T)
18 Oct 2022

Is 2022 going to be a good year for stocks? ›

Economic uncertainty may have peaked in the first half of 2022, but it remains high. Stocks are likely to continue to feel the weight of Federal Reserve policy tightening, shrinking market liquidity and slower economic growth.

What is the highest growing stock ever? ›

The Best Performing Stocks in History
  • Coca-Cola. (NASDAQ: KO) ...
  • Altria. (NASDAQ: MO) ...
  • (NASDAQ: AMZN) ...
  • Celgene. (NASDAQ: CELG) ...
  • Apple. (NASDAQ: AAPL) ...
  • Alphabet. (NASDAQ:GOOG) ...
  • Gilead Sciences. (NASDAQ: GILD) ...
  • Microsoft. (NASDAQ: MSFT)
22 Jul 2022

What should I invest in in March 2022? ›

10 New Stocks to Buy Now for March 2022
  • eBay (NASDAQ:EBAY)
  • Digital Realty Trust (NYSE:DLR)
  • Upstart Holdings (NASDAQ:UPST)
  • Lincoln Electric Holdings (NASDAQ:LECO)
  • Visteon Corporation (NASDAQ: VC)
  • United States Steel Corp. (NYSE:X)
  • Intuit (NASDAQ:INTU)
  • Roku (NASDAQ:ROKU)
14 Mar 2022

What are the safest stocks to buy? ›

Safe Stocks To Buy According To Hedge Funds
  • Colgate-Palmolive Company (NYSE:CL) Number of Hedge Fund Holders as of Q2, 2022: 55. ...
  • The Coca-Cola Company (NYSE:KO) Number of Hedge Fund Holders as of Q2, 2022: 60. ...
  • Abbott Laboratories (NYSE:ABT) ...
  • PepsiCo, Inc. ...
  • Walmart Inc. ...
  • The Procter & Gamble Company (NYSE:PG)
5 days ago

What stock has highest dividend? ›

Comparison Results
NamePriceDividend Yield
T AT&T$18.327.44%
XRX Xerox$14.267.17%
IBM International Business Machines$136.964.89%
CVX Chevron$183.423.09%
5 more rows

Will 2022 be a good year for stocks? ›

Economic uncertainty may have peaked in the first half of 2022, but it remains high. Stocks are likely to continue to feel the weight of Federal Reserve policy tightening, shrinking market liquidity and slower economic growth.

Which share is best to buy future? ›

Best Stocks to Buy in India for Long Term
  • Reliance Industries. Multinational Conglomerate.
  • Tata Consultancy Services (TCS) Information Technology.
  • Infosys. Information Technology.
  • HDFC Bank. Banking.
5 days ago

Which share is best after Budget 2022? ›

Domestic brokerage and research firm Axis Securities believes that the Union Budget 2022-23 was largely neutral for most other sectors. Its budget top stock picks include Federal Bank, City Union Bank, CanFin homes, Polycab, Ambuja Cement, KNR Construction, HG Infra, Asian Paints and ABFRL, Hindalco.

What stocks should I buy in February 2022? ›

AMD, EPAM, MASI, RGEN, & TER represent top stocks to buy now for February 2022.

How much will stock drop in 2022? ›

The tech-heavy Nasdaq 100 has dropped nearly 33 percent so far in 2022, the Dow Jones Industrial Average lost more than 20 percent while the world's best-known cryptocurrency, Bitcoin, shed nearly 60 percent of its value.

Should I pull my money out of the stock market? ›

Although the stock market produces volatile returns, it has a long history of outpacing inflation in the long run. So, if the money you have invested in the stock market isn't going to be used in the next few years, it's likely safer to keep your money invested than to take it out.

Which share will grow faster? ›

S.No.NameQtr Sales Var %
2.Info Edg.(India)67.23
3.B H E L61.03
4.Bharat Dynamics440.32
22 more rows

Which stock will rise in future? ›

growth stocks for future
1.EKI Energy10.80
2.Tips Industries26.61
3.Guj. Themis Bio.21.18
4.Supreme Petroch.10.03
22 more rows

Which share will grow in next 6 months? ›

Write Query
State Bank of India594.09.05 (1.6%)
Larsen & Toubro Ltd.2015.16.40 (0.3%)
Axis Bank Ltd.868.14.05 (0.5%)
Titan Company Ltd.2769.76.05 (0.2%)
19 more rows

Which is the best stocks for next 5 years? ›

Best Growth Stocks To Buy For the Next 5 Years
  • Airbnb, Inc. (NASDAQ:ABNB)
  • Fiserv, Inc. (NASDAQ:FISV)
  • Shopify Inc. (NYSE:SHOP)
  •, Inc. (NASDAQ:JD)
  • Zendesk, Inc. (NYSE:ZEN)
  • Marvell Technology, Inc. (NASDAQ:MRVL)
2 days ago


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