Four Cathie Wood Stocks Near Buy Points

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Tesla (TSLA), Shopify (SHOP), DraftKings (DKNG) and Twilio (TWLO) are significant Cathie Wood stocks that are actionable or near traditional or early entries.

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Tesla stock is the No. 1 holding across ARK Invest’s ETFs. SHOP stock is No. 8, with DraftKings at No. 9 and Twilio No. 10.

Tesla Stock

Tesla stock has hit resistance at the 50-day line, after surging to retake that level on Tuesday. Shares fell 5.1% to 245.01 on Friday, back down to its 21-day. TSLA stock still rose 2.7% for the week, but in the lower half of its range.

The EV giant has a 299.29 official buy point, according to MarketSmith analysis. But a move above Thursday’s high of 261.18 would offer an early entry.

A long-awaited upgraded Tesla Model 3 went on sale in China on Friday, with a higher price, but Tesla also slashed Model S and X prices in China. The EV giant also cut the price of its Full Self-Driving service to $12,000 from $15,000.

TSLA stock lost a fraction early Friday.

Also this past week, federal prosecutors are reportedly conducting new criminal probes of the EV giant. U.S. inventory discounts on the Model 3 and Y continue to increase.

Cathie Wood Stocks: Shopify

SHOP stock vaulted 10.8% on Thursday, gapping above the 50-day moving average and a downward-sloping trendline. That was part of a part of a 20.1% weekly surge to 66.71.

Shopify stock has an official buy point of 71.43. The e-commerce software giant is actionable from the 50-day and trendline, though after such a big move investors may want to see if SHOP stock can forge a handle in the base.

Amazon.com (AMZN) late Wednesday announced a deeper integration with Shopify. The seeds of that deeper partnership were sown in early May, when Shopify announced it was getting out of the logistics business, ending its direct competition with Amazon.

Amazon stock, for its part, rose 3.65% for the week to 138.12, rebounding from its 21-day and 10-week lines.

DraftKings Stock

Also among Cathie Wood stocks, DKNG is still in range of the 50-day line after clearing that key level on Tuesday. DraftKings stock rose jumped 5.3% to 29.64 for the week.

The online betting giant has been rebounding on volume that’s well below normal, after coming off 52-week highs in heavy trade in early August. DraftKings stock is working on a new base, but that will take another week.

Cathie Wood Stocks: Twilio

Twilio stock is flashing an early entry after clearing its 50-day line on Thursday and extending its win streak to four sessions, though they all came on light volume. Shares of the communications software maker rose 4.4% to 65.42 for the week. The relative strength line for this Cathie Wood stock bounced this past week but has been sliding since early June. Twilio stock is far off its early 2021 peak.

TWLO stock has a 71.24 buy point from a consolidation right next to a prior base.

Please follow Ed Carson on X/Twitter at @IBD_ECarson for stock market updates and more.

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