As the market indexes continue to regroup from this year's bear market, there's no shortage of names on the IBD Breakout Stocks Index that are setting up new bases and buy zones. Many of these companies — such as Aris Water Solutions, Beacon Roofing Supply and New Fortress Energy — still have earnings on deck, adding both opportunity and risk. ARIS stock jumped to the top of its buy zone today in heavy volume.
Oil stocks have a strong presence on the latest list, which is updated weekly. In addition to NFE stock, Denbury, Equinor, EQT, Magellan Midstream Partners, MPLX and Constellation Energy have also powered their way onto this bullish stock screen.
Elsewhere in the energy sector, geothermal energy leader Ormat Technologies also made the cut. Featured in the breakout stocks column on July 20, Ormat reports earnings on Wednesday. The stock is in a buy zone after breaking out of a double bottom.
Meanwhile, New Frontier Energy is priming a 52.47 buy point as it gets ready to report on Thursday.
See All The Names On The IBD Breakout Stocks Index
Defense Stocks Heico, TransDigm Rise As Pelosi Visits Taiwan
The Taiwan visit by House Speaker Nancy Pelosi's (D-Calif.) has defense stocks Heico and TransDigm testing new buy zones.
Heico has already secured a breakout, clearing a 151.36 entry in a double bottom. Volume leading up to and on the day of the breakout was rising and well above average. HEI stock now trades at the top of its buy zone as it gets ready to report on Aug. 25.
TDG stock has also formed a double bottom, a common chart pattern in volatile markets. The buy point for TransDigm is 633.44. The aerospace contractor reports earnings on Aug. 9.
Transportation Stocks Trucking Toward Buy Points
The IBD Breakout Stocks Index also features several transportation stocks hailing from the 197 industry groups that IBD tracks.
At No. 39, the trucking group ranks the highest within the transportation sector. Trucking stocks setting up include Knight-Swift Transportation and J.B. Hunt Transport.
Within the transportation logistics group, Schneider National and Hub Group are plotting out routes to a new buy point. Both stocks are testing resistance at their 40-week moving averages.
Fellow logistics leader C.H. Robinson Worldwide has already cleared its 10-week and 40-week lines. CHRW stock continues to build a cup pattern currently showing a 116.06 buy point. It may form a handle to offer an earlier entry.
After delivering explosive, triple-digits earnings growth in the last two quarters, Hub reports on Wednesday. Analysts forecast a 228% EPS increase.
Other transportation leaders featured on the IBD Breakout Stocks Index have already reported.
How To Find Breakout Stocks To Buy And Watch
This is just a sampling of stocks to buy and watch that are setting up new bases and buy zones, many with earnings on tap.
Be sure to review both the stock ratings in Stock Checkup as well as the stock charts for technical analysis. Tracking the relative strength line of your stocks also helps to identify true market leaders.
Last but not least, always view your potential stock picks in the context of the general market. Most individual stocks mimic the price action, direction and volatility of the stock market indexes.
Follow Matthew Galgani on Twitter at @IBD_MGalgani.
