Meta Stock, Energy Plays Lead Five Leaders Rebounding Bullishly
January 5, 2025
Meta Platforms leads five stocks that are rebounding to break recent downtrends. Energy plays Kinetic Holdings and Talon Energy also rank on this week’s list of stocks to watch, as well as GeneDX and Interactive Brokers.
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Meta Platforms, GeneDX and Interactive Brokers also rank on the elite IBD 50 list.
The market has been giving mixed signals, but the major indexes rebounded late in the week while leading stocks shined.
Meta Stock
Meta stock on Thursday rebounded from its 50-day moving average to reclaim its 21-day exponential moving average and break a short downtrend. Shares regained a 602.95 buy point on Friday.
The Magnificent Seven member on Oct. 30 topped third quarter earnings estimates with a 19% revenue increase. CEO Mark Zuckerberg pledged to continue major investments on artificial intelligence and the metaverse, as Meta guided $38 billion to $40 billion in capital expenditures for the fiscal year.
For Q4 results in late January, FactSet expects a 26% increase in earnings to $6.73 per share on 17% revenue growth to $47 billion.
Meta Platforms is also a member of the IBD Leaderboard list.
GeneDX Stock
GeneDX was the IBD Stock Of The Day for Monday after the DNA-reading company notched a 2,500%-plus gain for 2024.
The genetic testing firm finally turned a profit a year ahead of schedule in Q3 2024, after off-loading old businesses in 2022.
WGS stock flashed a buy signal Thursday as the stock rebounded from the 50-day line and briefly broke a downtrend. Shares edged lower Friday. Investors could now use Thursday’s intraday high of 85.29 as an early opportunity, which would mark another short-term high and a closing high.
Shares are consolidating with an official buy point at 89.11, according to MarketSurge charts.
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Kinetik Holdings Stock
Pipeline company Kinetik Holdings was the IBD Stock Of The Day for Thursday as oil and gas prices climbed to three-month highs.
KNTK pulled back from late November and found support at its 50-day moving average, forming a six-week flat base. Shares bounced from near the 50-day line again on Dec. 30, then rebounded powerfully Thursday from the 21-day line, offering an early entry as they cleared their Dec. 20 high of 57.99.
Kinetik stock added to gains Friday.
The current pattern has an official buy point at 62.55.
Talen Energy Stock
Talen Energy on Thursday flashed an early entry opportunity as it rebounded from its 50-day line late in the week to break a downtrend. Talen stock kept rising Friday. Shares are building the right side of a new consolidation, on top of a prior consolidation from September.
Talen and Amazon.com recently lodged legal action to move forward with a nuclear-powered AWS data center campus. However, the Federal Energy Regulatory Commission rejected the deal in November based on concerns regarding grid reliability and consumer costs.
Amazon and Talen are “exploring the whole suite of commercial and legal solutions” to move the project forward despite the FERC ruling, Talen Chief Executive Mac McFarland told analysts in mid-November.
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Interactive Brokers Stock
Interactive Brokers shares doubled in 2024 as key company metrics swelled throughout the year.
The company saw revenue from commissions jump 31% in the third quarter, driven by higher customer trading volumes. Meanwhile, the number of customer accounts ballooned 28%. Total daily average revenue trades (DARTs) soared 42% for the period, while net interest income grew 8%. Interactive Brokers fell short of earnings estimates with 13% earnings growth, while revenue increased 19% to top views.
Analysts expect Q4 earnings improve to 11 cents per share, from a loss of 49 cents last year. Revenue is seen increasing 38% to $80.4 million.
Interactive Brokers shares on Thursday rebounded from the 50-day line to break a downtrend and clear short-term highs within a flat base.
The current pattern has an official 193.42 buy point, matching IBKR’s record high from Nov. 25.
SwingTrader on Thursday added IBKR stock with a 181.82 entry.
Interactive Brokers is also on the IBD Big Cap 20 list.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
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