Markets

These Amazon Rivals Lead Four Hot Stocks Near Buy Points

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Your stocks to watch this week are four web-based platforms that are building base-on-base formations : Netflix ( NFLX ), Etsy ( ETSY ), E-Trade ( ETFC ) and Sina ( SINA ).

Netflix

[ibd-display-video id=2326958 width=50 float=left autostart=true] After breaking out of a cup-with-handle base in early October, Netflix is now working on a flat base with a 204.48 buy point. Shares are finding support at the key 50-day line as they build the pattern, though shares fell 0.6% to 194.60 in morning trade on the stock market today . Netflix is considered the leading streaming service, but faces stiff competition from the likes of Amazon ( AMZN ), Hulu and others.

Etsy

E-commerce powerhouse Amazon also is a serious rival to Etsy with the expansion of its Amazon Handmade platform in October. While Amazon is extended from buy range, Etsy is shaping a cup-with-handle base with a 17.70 entry point. The provider of handcrafted goods is up 1.3% to 17.24 on Monday, continuing Friday's rebound from support at its 50-day line.

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E-Trade

E-Trade is less than 2% below a 45.80 flat base buy point, up 0.7% to 45.18 intraday. The 50-day line has been an area of support too. As for fellow online broker s Charles Schwab (SCHW) and TD Ameritrade (AMTD), Schwab is vying for a breakout while Ameritrade remains within the 5% buy zone after its Sept. 27 breakout.

Sina

Chinese internet giant Sina is more than 10% below a 119.30 buy point from a flat base after losing 2% to 106.98 intraday Monday. Sina fell back below its 50-day moving average on Friday after retaking that support on Wednesday. Sina is the majority shareholder of Weibo (WB), which is well extended from a buy zone after breaking out in early November .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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