The days may begin to cool in the U.S., but the stock market is RED HOT!
August was one of the strongest months in the last two decades for the benchmark indexes.
Tech companies helped to keep things rolling with the high-flyers closing out August with jaw-dropping gains.
With the anticipation of stock splits (split date – 8/31/20), Tesla (TSLA) jumped more than 70% in August with Apple (AAPL) following with a 21% boost. Fellow tech stock Zoom (ZM) also added 28% to its stock price.
So, what does September look like? Here are a few hot topics going into the new month.
- Promising vaccines are moving further along in the testing and approval process
- The U.S. Dollar (USD) hits 2-year lows
- Markets react to Fed’s new inflation rate policy
Opportunities are everywhere if you know where to look. While the weather might cool, you can always find hot stocks in MarketClub.
Hottest Stocks for September 2020
Digital Turbine, Inc. (APPS)
Digital Turbine, Inc. provides media and mobile communication products and solutions. Headquartered in Austin, Texas, this company also provides advertising and targeted media services.
Avg. Volume: 3,719,112
Market Cap: 2.4B
Monthly Green Trade Triangle: 6/3/20 at $7.28
Smart Scan Score: +100
MarketClub members received a new green monthly Trade Triangle on June 3, 2020, at $7.28.
Digital Turbine’s stock price exploded and moved into the confines of a long-term uptrend. As of September 1, 2020, APPS is up 271% since the signal and is still showing major strength.
This stock also made it onto our Hottest Stocks for August 2020 list. As of now, APPS is still red hot.
Redfin Corp. (RDFN)
Redfin is taking the real estate market by storm, upending the traditional broker-client model. The company helps customers buy and sell homes with settlement and lending services and an online real estate marketplace.
Avg. Volume: 1,430,669
Market Cap: 4.87B
Monthly Green Trade Triangle: 6/2/20 at $30.95
Smart Scan Score: +100
Redfin traded below the $15/share mark in March of 2020 before a steady move higher, flopping over the $40 level towards the end of June. RDFN kissed the $50 mark in late August before setting back to the high $40/share level.
A monthly, green Trade Triangle was issued on June 2, 2020, at $30.95. As of September 1, 2020, the stock is up 58%.
The momentum looks steady for RDFN, and the Smart Scan Score suggests that there is more room to run. This stock was also featured on the list of the top stocks for August.
Chewy, Inc. (CHWY)
This e-commerce company provides pet foods, medications, and accessories for U.S. customers. Chewy is a subsidiary of PetSmart and offers more than 60K products from 2K brand partners.
Avg. Volume: 3,942,676
Market Cap: 27.3B
Monthly Green Trade Triangle: 4/9/20 at $39.63
Smart Scan Score: +100
After moving fairly sideways in 2019, the new COVID stay-at-home economy has helped Chewy’s click-to-door model shine.
A new monthly, green Trade Triangle triggered on April 9, 2020, at $39.63. As of September 1, 2020, the stock is up 73%.
With a +100 Chart Analysis Score, CHWY has the technical strength to continue its run.
Slack Technologies, Inc. (WORK)
This technology platform acts as a centralized hub for colleagues and vendors. This company connects apps, people, improving communication and documentation processes.
Avg. Volume: 16,704,971
Market Cap: 19.29B
Monthly Green Trade Triangle: 5/8/20 at $30.47
Smart Scan Score: +100
Slack is a leading name in the work-from-home tech subsector.
As major companies have adopted solutions to help employees collaborate and stay connected from their home offices, companies like Slack have seen major user growth.
MarketClub members received a monthly, green Trade Triangle on May 5, 2020, at $30.47. The stock made a sharp bullish move, jumping over the $40/share mark on June 4, 2020, before falling back to the pre-spike range.
After a short sideways move, Slack had five consecutive positive days. This move aligns with the long-term trend and is a sign that the stock could push higher in the next weeks or months.
As of September 1, 2020, the stock is up 12.6% since the long-term Trade Triangle.
Roku, Inc. (ROKU)
Roku Inc. is a TV streaming platform serving customers in the United States, Canada, the United Kingdom, France, Ireland, Mexico, and Latin American countries. The platform allows customers (over 36.9 million customers reported at the end of 2019) to find and access movies, TV shows, and live entertainment. Roku also sells media players and accessories.
Avg. Volume: 9,767,623
Market Cap: 22.52B
Monthly Green Trade Triangle: 7/9/20 at $138.79
Smart Scan Score: +100
After bouncing around in the $110-$130 range for much of early 2020, ROKU began to climb in June, triggering a green, monthly Trade Triangle on July 9, 2020, at $138.79.
The stock continued to make a slow move up and recorded a nice run of strong gains toward the end of August.
As of September 1, 2020, ROKU is up more than 30.3% since the last long-term signal. With a +100 Chart Analysis Score, the stock has the potential to add to gains.
Marvell Technology Group Ltd. (MRVL)
Marvell Technology Group is a semiconductor company that provides solutions for the enterprise, cloud, automotive, industrial and consumer markets. MRVL continues to hold its position as one of the strongest trending 5G stocks.
Avg. Volume: 8,321,563
Market Cap: 26.3B
Monthly Green Trade Triangle: 5/19/20 at $28.06
Smart Scan Score: +90
Like many stocks, MRVL took a quick dive in March followed by a rapid recovery. After our technology was able to detect a new, firm bullish trend (not just a quick bounce), a green, monthly Trade Triangle was May 19, 2020, at $28.06.
Today, the stock is up more than 40% since the Trade Triangle entry signal.
Zscaler, Inc. (ZS)
Zscaler, Inc. is a cloud security company serving customers worldwide. The company offers a number of solutions for the transportation, conglomerates, consumer goods and retail, financial services, healthcare, manufacturing, media and communications, public sector and education, technology, and telecommunications sectors.
Avg. Volume: 3,096,493
Market Cap: 20.604B
Monthly Green Trade Triangle: 4/14/20 at $66.50
Smart Scan Score: +100
Zscaler’s stock picked up momentum in June of 2020, after gapping up on May 29. The company is set to report earnings on September 9, 2020. Net sales are expected to be significantly higher than in the same period of the previous year, however the projected EPS is 50% less than the same period.
MarketClub members received a monthly Trade Triangle for ZS on April 14, 2020, at $66.50. The price of ZS as since exploded, up more than 137% since the April entry signal.
Changes in price action and momentum may alter the outlook for these 7 hot stocks for September 2020. This does NOT mean you should sit in front of your computer to monitor the action!
Let MarketClub carefully watch these hot stocks (and many others with red hot momentum) for you.
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