These Are The Best Robinhood Stocks To Buy Or Watch Now

grace williams September 9, 2024.

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, GE Aerospace (GE), Netflix (NFLX) and Costco Wholesale (COST) are standout performers. They are also part of the Robinhood Top 100 Stocks list, the most popular stocks among traders using the platform.

Unlike 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 strong earnings and stock market performance.

The IBD Methodology 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 investing is to keep track of the 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.

The stock market had been looking bullish again, though these recent wobbles mean investors should remain on their guard. While it remains a good time to make new stock purchases, adding stocks to a watchlist could be a more prudent approach.

Investors should be looking to buy high-quality issues with good growth prospects. The selections below are among the best stocks to buy or watch now. The IBD 50 is also a rich hunting ground.

Nevertheless, it remains crucial to stay on top of sell signals. 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 average.
 

Remember, there is still significant headline risk. Inflation could still be an issue, while the Russia-Ukraine conflict is a wild card that has proved its ability to shake the market. The current issues in Israel and Palestine add even more uncertainty.