Stocks To Watch: These 5 Top Stocks Are In Or Near Buy Zones

Your stocks to watch this week are five highly rated retail stocks trading in or near buy zones: Burlington Stores (BURL), O’Reilly Automotive (ORLY), Nordstrom (JWN), Kohl’s (KSS) and Costco Wholesale (COST). Burlington stock leads with a highest-possible IBD Composite Rating of 99, followed by O’Reilly stock with a 98. Nordstrom stock earns a 94 while Kohl’s stock and Costco both have 93s.

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The stock market is now in a confirmed uptrend, which provides a green light to investors. But Friday’s stock market sell-off underscores that investors should look both ways.

O’Reilly Stock

After retaking its 50-day line on Wednesday, O’Reilly stock is trading 1% above a 351.75 buy point from a flat base. And the relative strength line is at its highest level in over two years. When looking at stocks to watch, the relative strength line, which tracks performance vs. the S&P 500 index, is key. Volume for O’Reilly stock was above average for the week, but not significantly heavier.

Burlington Stock

Burlington stock is trading 2% below a 175.58 buy point from a cup base. But the RS line has pulled back over the past couple of weeks even though Burlington is trading near all-time highs. Seeing the RS line at a new high when a stock breaks out is a bullish indicator. Burlington stock stands out among stocks to watch as it’s on Leaderboard’s Leaders Watch List.

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Nordstrom Stock

Nordstrom stock is trading 1% below a 66.43 buy point from a cup base. Shares initially cleared that level on Oct. 30 in heavy volume, but Nordstrom stock has struggled to stay within the buy range. Like Burlington stock, Nordstrom’s relative strength line has come down in recent weeks. Nordstrom earnings are due Nov. 15.

Kohl’s Stock

Kohl’s stock attempted to enter buy range on Thursday and Friday, but shares hit resistance at the 82.52 buy point. The RS line is at its highest level in over three years. And Kohl’s stock recently surpassed its highs from early 2015 to trade above the 80 price mark for the first time ever.

Costco Stock

Costco stock is trading 3% below a cup base’s 245.26 buy point. On Nov. 5, Costco stock retook its 50-day line in average volume. The RS line is just below all-time highs.

Late Wednesday, Costco Wholesale reported October same-store sales growth of 6.6% excluding gasoline, currency swings and an accounting change. U.S. comps grew 7.1%. E-commerce sales boomed 20%.

Walmart Earnings, Macy’s Earnings Due

In addition to Nordstrom earnings next week, other stocks to watch include mega-retailer Walmart (WMT). Walmart earnings are due Nov. 15. Walmart stock is just above buy range from a cup-with-handle entry of 100.31.

Also, Macy’s (M) reports earnings Nov. 14. Macy’s earnings results and holiday guidance could have an impact on other department store stocks like Nordstrom and Kohl’s.

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