Are you buying the dip shopping? Four growth stocks that defy a falling market

Investors expect a dismal start to the week as global stock and equity futures spit red ink. As a result, concerns over China’s real estate may have spooked the markets for good, with giant Evergrande slipping.

Concerns about contagion from China are accumulating for a number of reasons to worry this market: “The persistence of the delta variant, increased inflation, blockages in the supply chain and rising raw material prices combine to form a toxic cocktail that makes optimism fade says Richard Hunter, Head of Markets at Interactive Investor.

Investors have been promised anything but roses for September, so be prepared for the 5% to 10% decline over the next few months that Wall Street analysts have repeatedly warned about.

Does that mean you should have a dip shopping list on hand? Check out these growth name ideas from ours Call of the day, by Larry Tentarelli, editor and editor of the Blue Chip Daily Trend Report.

“Each of these stocks is in an uptrend, with higher highs and higher lows across all major moving averages. While general market direction can affect all stocks, these top 4 high growth companies are showing signs of outperforming, ”writes Tentarelli.

The tech-related companies are all 20% or more below their all-time highs but were able to make weekly gains last week, offsetting the SPY’s losses
SPY

and QQQ
QQQ

– Two major exchange traded funds that track the S&P 500
SPX

and the Nasdaq-100
NDX

Indexes – writes Tentarelli.

First up is the vacation rental group Airbnb
ABNB,

which is 24.7% below its all-time high in February, but still ended on Friday at a 4-month weekly closing high.

He notes that price momentum is improving for AirBNB, which is trading above the 20, 50 and 100 day moving averages. Airbnb shares are up 15% from their public debut in early December 2020.

Blue Chip Daily / Stockcharts.com

The next three picks are in the cloud software area, starting with Palantir
PLTR,

which closed on Friday with a 7-month weekly closing high but is still 36.2% below its all-time highs from January. Palantir mostly trades four major daily moving averages, Tentarelli said, adding that “the 20-dma has recently crossed above the 50, 100 and 200-dma, suggesting very strong short-term price momentum”.

Blue Chip Daily / Stockcharts.com

Unity software
U

also ended on Friday with a 7-month weekly closing high but remains 21.8% below its all-time highs of December 2020. It’s mostly about four major moving averages and recently had two bullish crosses.

The last one is snowflake
SNOW,

which hit a 10-month weekly closing high on Friday, the highest of the year so far but is still 24.7% away from December 2020 highs. Snow is trading over 20, 50, 100 and 200 DMAs and has made bullish 20-day / 200-day and 50-day / 200-day crosses in the past 5 weeks, he said.

Evergrande clouds the mood and Yellen warns

Real estate stocks in China slumped with Evergrande
HK: 3333

14% down. The real estate giant faces two crucial bond payment deadlines this week Fears of failure grow.

China’s regulators met with Wall Street officials last week to defend their crackdown on technology. say sources. Meanwhile, young fans of China’s version of the video app TikTok are leading the way Screen time limits.

Treasury Secretary Janet Yellen urged Congress to raise or suspend the country’s debt ceiling or risk “widespread economic disaster” Column in the Wall Street Journal. The Treasury Department could default on its bills by October if a split Senate fails to reach an agreement on raising the debt ceiling.

Pfizer
PFE

and German partner BioNTech said a phase 2/3 study of their COVID-19 vaccine in children ages 5-11 showed it to be safe, effective and a “Robust” neutralizing antibody response.

Investors will be on the lookout for it any rejuvenating conversation by a two-day Federal Reserve Open Market Committee beginning Tuesday. A bunch of other global central banks will also meet.

Netflix
NFLX

and apple
AAPL

were big winners at Emmy Awards on Sunday with “Ted Lasso” and “The Crown”. No big winners? Actor of color when it came to performance awards.

The markets

Stock futures
YM00

ES00

NQ00

are deep in the red, with European stocks
XX: SXXP
also fight as Hang Seng. from Hong Kong
HK: HSI

slipped 3.3% – China and other markets were closed for holidays – on these Evergrande worries. Iron ore prices fell again as China tightened industrial restrictions in some provinces. Other raw materials like oil
CL00,

copper
HGU21,

and palladium
PLV21

fell too.

Cryptocurrencies are also having a hard time, led by losses for ethers
ETHUSD.

Random reads

A volcano on one of the Canary Islands of Spain broke out on Sunday, spitting lava. Property was destroyed and thousands had to flee.

Also in Spain more than 25,000 students and other night owls hosted a mega party at a Madrid university on Friday, with the last night owls leaving on Saturday around 7 a.m.

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