Stocks to Buy in November. Part I.



Crude Oil ETF (UCO)

Entry: Unlock

Price target: 31.00-32.00

Second PT: TBD

Analysis done on hourly timeframe. The ever-volatile energy sector has been beaten down this year as America’s elections approach. Elections are often a time when the presidential administration seeks to keep gasoline prices low to win over the public vote. Simultaneously, the past 12 months have been marked by rising global tensions, especially in regions where oil is heavily extracted. This usually leads to higher oil prices, but the influence of the election has kept prices at bay.

However, as tensions rise and demand begins to increase, oil prices are likely to surge again. The UCO ETF is a solid way to gain exposure to this potential increase, especially with its price hovering near the 2024 lows.

Boyd Gaming Co. (BYD)

Entry: Unlock

Price target: 76.00-78.00

Second PT: Unlock

Analysis done on hourly timeframe. Boyd Gaming shares surged last week following the company’s better-than-expected earnings results. The casino and gaming company earned $1.52 per share, a 7.8% surprise above the consensus estimate of $1.41. Revenue also topped estimates, coming in at $961 million. Revenue in the Downtown Las Vegas segment rose 7.6% year-over-year, with growth also seen in the Midwest and South segments. Online gaming increased by more than 50% compared to a year ago, reaching $141.3 million for the quarter.

BYD’s impressive quarter didn’t go unnoticed. The stock surged nearly 8%, reaching a new 2024 high. The strong earnings will likely attract new interest, and investors who recognize the company’s attractive 12x P/E ratio and low $6 billion valuation will want in.

Decker’s Outdoor Co. (DECK)

Entry: Unlock

Price target: 175.00-176.00

Second PT: Unlock

Analysis done on hourly timeframe. Deckers Outdoor is defying the odds this year by growing its business at a consistent rate in both top and bottom lines. The apparel and footwear company, most famously known for HOKA and UGG, has grown its revenue at an average of 21% over the past four quarters, all while increasing their net income from $63M in Q1 of 2023, to $115M last quarter. This brings them to a price to earnings ratio of 29x, which is on the higher end of the scale, but based on the way they’re growing, it should come down as profits rise. 

DECK’s annual revenue grew by 18% last year, reaching $4.30B. This makes their current market cap of $29B a bit costly as it stands currently, but investors are hoping that future earnings make up for the gap. Their balance sheet has about a 3:1 ratio, with $3.3B in assets and $1.2B in liabilities. Finally, the company’s free cash flow has grown to nearly a billion dollars, impressive for an apparel company during a period of low consumer confidence. 

Going into the holiday season, brands like HOKA and UGG are both set up for success. Running club culture has grown significantly over the last year, and chances are sales will grow for the holidays. DECK saw a decline from its highs this year, and had trouble getting strength on its 200 day MA, but their most recent earnings were impressive enough to finally give them a strong buy signal, pushing them above highs they’ve struggled at since July. 

You've reached the end of our complimentary public watchlist. Unlock for the full list by becoming a member of our Hyper Stocks community. Click here for more information. 

You've reached the end of our complimentary public watchlist. Unlock for the full list by becoming a member of our Hyper Stocks community. Click here for more information. 

You've reached the end of our complimentary public watchlist. Unlock for the full list by becoming a member of our Hyper Stocks community. Click here for more information. 

You've reached the end of our complimentary public watchlist. Unlock for the full list by becoming a member of our Hyper Stocks community. Click here for more information. 

You've reached the end of our complimentary public watchlist. Unlock for the full list by becoming a member of our Hyper Stocks community. Click here for more information. 

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The stocks posted above are the preliminary stocks and set ups we’ll be watching this week. All price points are subject to change based on market performance and sector health. Please do your own research and analysis on these companies/charts before taking on any set ups. Trade at your own risk and as always, good luck! Let’s have a fantastic week.