Carvana, Agnico-Eagle Mines, Rubrik, Ubiquiti and Ferrari are stocks to watch in the coming week as the major indexes work to add to their new highs.
The S&P 500 and Nasdaq began July by extending the strong gains made in June. The S&P 500 rose 5% last month. Its 11.4% increase over the last two months is the best since December 2023, according to Dow Jones Market Data. On Thursday, it made its seventh record close of 2025.
The Nasdaq rallied 6.6% in June, for a third-straight monthly increase. The index rallied nearly 17.8% over the last three months — the strongest three-month gain since the three months ended in January 2024. The Dow Jones Industrial Average rose 4.3% in June but is not quite at new highs. It added 2.3% during July 4 holiday-shortened week.
With the S&P 500 and Nasdaq in a power trend, investors can buy stocks with a 21-day average true range of up to 8%, though they should be wary of being too concentrated in high-octane names.
The average true range is a metric available on IBD's MarketSurge that gauges the characteristic breadth of a stock's behavior. Stocks with a high ATR tend to make large price moves that can trigger sell rules. Stocks with lower ATRs tend to make more incremental moves.
Carvana Near All-Time High
Carvana stock is rebounding from a three-week consolidation. The June 24 high of 328.20 acted as an entry from short-term support.
On Wednesday, Citizens JMP raised the price target to 440 from 275, the highest target of any Wall Street analyst. Analysts maintained an outperform rating, according to FactSet. Share Thursday traded around 348.
The used-car sales platform has a 99 Composite Rating, the highest of 22 stocks in IBD's auto retail and wholesale industry group. It reached that perfect score largely thanks to the strongest 12-month price performance of all stocks in the group, as its 97 Relative Strength Rating shows.
The company is known for huge "vending machines" where shoppers can select cars. But more often, it delivers vehicles to buyers by tow truck, and it also buys used cars for its inventory.
Carvana reported better-than-expected first-quarter profit and sales on May 7. The company also announced a target of selling 3 million retail vehicles per year at an adjusted EBITDA margin of 13.5% within 5-10 years. CEO Ernie Garcia saw limited impact from President Donald Trump's auto tariff policies.
The company will announce second-quarter earnings on July 30. Carvana stock has an ATR of 4.47%.
Ferrari Races
At the opposite end of the used-car market is luxury sports carmaker Ferrari. The stock is forming a cup-with-handle base with a 503.10 buy point. The relative strength line, however, is lagging the stock. The Relative Strength Rating is below the 80 minimum seen in most successful breakouts.
Still, Ferrari has the highest Composite Rating (89) in the automakers industry group. (Nine companies in the group including BYD and Nissan don't qualify for Composite Ratings.)
The Italy-based automaker posted EPS gains of 23%, 20%, 24% and 18% the past four quarters, according to IBD MarketSurge. Sales increased from 7% to 14% in those periods. The analysts' consensus estimate for second-quarter earnings translated to U.S. dollars is $2.38 a share, an increase of 4% according to FactSet. Sales are expected to climb 7% to $1.832 billion. Ferrari has not announced its next earnings date.
"Given the ongoing challenging outlook for the luxury goods sector, we prefer to maintain exposure to Ferrari's robust execution and reliable performance, which are underpinned by the company's focus on exclusivity and strong customer relationships," UBS analyst Suzy Tibaldi said in a note to clients Monday.
Tibaldi has a buy rating on the stock and a 560 price target. Ferrari is currently trading around 490.
Ferrari faces a risk from U.S. tariffs on auto imports, which remain under negotiations.
The stock's average true range is 1.61%.
Agnico-Eagle Mines
Toronto-based Agnico-Eagle is one of 13 stocks in IBD's gold and silver mining industry group with highest-possible 99 Composite Ratings. Its EPS Rating is a robust 97.
The company's earnings growth is making an impressive turnaround. After earnings per share declined in the second and third quarters of 2023, EPS rose 39%, 32%, 73%, 161%, 132% and 104% in the subsequent quarters.
Sales growth also is trending higher, climbing from 12% to 37% over that same period, according to FactSet.
Agnico-Eagle is the world's third-largest gold miner, with most of its operations in Canada, where the company is based. It owns 85% of gold production and 87% of gold mineral reserves in Canada. It also has operations in Australia, Finland and Mexico.
The company is looking to explore further in Canada's Arctic region, where valuable deposits lie. Agnico-Eagle, which already has Arctic operations in Canada and Finland, sees growing interest from Canada's government in developing that region, Chairman Sean Boyd said at an investor meeting last Thursday.
Agnico-Eagle stock has an ATR of 2.74%.
Rubrik Finds Support
Shares of Rubrik pulled back to the 10-week moving average, where they are finding support. Investors could use a move above the 21-day exponential moving average (currently around 88.90) as an entry.
The data storage and security software firm announced last month it will acquire generative artificial intelligence startup Predibase. The deal should help Rubrik expand further into data management. Predibase helps companies use their proprietary data to train and fine-tune AI models.
Rubrik, which went public in April 2024, remains unprofitable. Analysts expect the company will post losses again this year and next. That brings down its Composite Rating to 79.
Sales growth, however, accelerated from 35% to 43%, 47% and 49% in the past few quarters.
See The Latest Updates To IBD Watchlists
The company did beat the highest analyst estimates for sales and for the bottom line in the past two reported quarters. Of two dozen analysts who cover the stock, 83% have buy recommendations and an average target price of 111.89.
Rubrik stock, which is trading around 89, has a 4.44% ATR.
Ubiquiti Among Stocks To Watch
Ubiquiti stock is forming a cup base with a 465 buy point. The chart also could be interpreted as a deep cup with handle with an identical buy point. Although shares more than tripled from a flat-base breakout a year ago, the 46% decline earlier this year reset Ubiquiti's base count. It is now in a more favorable first-stage base.
The New York-based company is one of the highest rated in the telecom infrastructure industry group, owning a 95 Composite Rating and 88 EPS Rating. It was the IBD Stock of the Day Wednesday.
The maker of wireless networking gear has branched out from being a provider of internet service in rural areas to selling networking gear in the enterprise market. More recently, its UnFi product line also has been gaining traction with enterprise customers.
Despite having a market cap of more than $25 billion, only three analysts cover the company, all with mixed opinions.
Barclays has an underweight rating on the stock. Analyst Tim Long warned of increasing competition in a note to clients in May. Higher shipping costs and expected tariff costs could pressure margins.
But Ubiquiti could benefit after Hewlett Packard Enterprise agreed to divest its Instant On wireless networking switch business. The sale is part of a settlement to win approval for Hewlett's acquisition of Juniper Networks. Instant On, which is targeted at small offices and stores, competes with Ubiquiti's UniFi products.
Ubiquiti stock has a 21-day ATR of 3.05%.
