3 Stocks to Watch for the Week of October 9

Taboola.com Ltd. (TBLA)

Unless you work in marketing or advertising, TBLA is likely an unfamiliar name to you. But this billion-dollar company is a market leader in online advertising, and its stock has been on a tear since May this year since posting strong first-quarter earnings and integrating generative AI into its core product.

As a matter of fact, its current share price is higher than what it was at the end of July when the market pullback started. And considering TBLA is a tech company, this is even more impressive.

From a price action perspective, this stock has also been solid, with both its 21-day and 50-day moving averages serving as strong support. WIth price action like that, there’s a very good chance that its upward trend will only continue.

Cinemark Holdings, Inc. (CNK)

Cinema chain CNK has been on a roll this year, returning nearly 135% to shareholders. And right now, its stock appears to have broken out to new highs – blowing past the previous resistance level created by its highs in mid-June 2023 and early August 2023 on high volume.

Further supporting this breakout is the fact that its stock moved above its 21-day and 50-day moving averages a few weeks ago. With the breakout just happening at the end of last week, now could be the best time to move in on this stock.

Uranium Royalty Corp. (UROY)

UROY is a small-cap Canadian-based uranium company. We’ve featured a couple uranium companies on this Monday newsletter before – so this is another one for the list.

As you know, uranium prices are at decade-level highs – and UROY’s price action has been reflective of that. After emerging from a bottom earlier in June, the stock has taken off, with the 21-day moving average serving as strong support since then.

The stock also made a big upward price move on strong volume at the end of last week – breaking past a resistance level formed by its highs in November 2022 and February 2023. And the best time to get in on a breakout is right when it’s beginning.

To your wealth,
Felix @ Ace of Investing