S&P 500 Stocks to Buy and Watch as the Stock Market Corrects

It’s no news that the market has had a rough year, with only a few groups really standing out from the crowd. This story highlights five A-list S&P 500 stocks to buy and see that shine above the rest.




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Running an IBD screen is a way to narrow down a large list of stocks and find gems with winning criteria.

The MarketSmith Screening Tool allows users to create a custom screen drawing metrics from IBD’s database of companies. The following five stocks passed the rigorous test of key measures: earnings per share and a relative strength rating of 85 or higher, an overall rating of at least 94, a 50-day average daily volume of more than 400,000 shares, and a current stock. 20 or more.

Five S&P 500 Stocks to Watch

Screen generated a list of companies that checked the relevant metrics box. Among them, here are five that stand out and are near buy points that might be a good fit for your watchlist.

UnitedHealth Group ,uhh), AliEdding Health Care Benefits Providerearned my way in IBD 50 index and IBD leaderboard, Coming out of stock cup-with-handle base and above 534.15 point of purchase, is sitting in 5% purchase area,

The company has a 94 relative strength rating.

UnitedHealth reports strong second quarter earnings on July 15, with a beat Earnings and sales per share. The company’s June-quarter EPS growth was 19% and its sales grew 13%. UNH has 99 . out of 94 marks overall rating,

Analysts expect 15% annualized EPS growth for 2022 and 14% in 2023. Mutual funds are adding to the stock, holding it 5,260 in June, up from 5,059 in March and 4,871 in December.

“I” means Institutional Ownership can slim guidance. Increased institutional ownership is a positive for the stock as money managers can move the stock on large block purchases.

UnitedHealth ranks number 5 in the managed medical care group. The group is ranked in the top 10 out of 197 groups of IBD tracks. Argus Research raised its price target on UNH from 580 to 650 on July 25 and maintained its buy rating.

IBD 50 System Design Stock Gaining Strength

Cadence Design Systems ,cdns), an electronic systems designer, 31%-deep. gaining strength on the right side of cup base with point of purchase of 192.80 on the chart. is in rhythm IBD 50 index.

The relative strength line is rising and has reached a new high, as a . is specified by blue dot Feather Marketsmith Chart.

Cadence reported a Outperform on Q2 Sales and Earningsand extended its full-year guidance to July 25. This news added to the stock’s rally.

The company has seen an uptick in EPS in seven of the last eight quarters. Analysts expect a 25% annualized EPS growth rate in 2022 and 12% growth in 2023. CDNS stock has a three-year EPS growth rate of 24%.

Cadence is ranked No. 2 in the Computer Software Design group, ranked 64th out of 197 industries on the IBD track. respectable of rhythm 97. Is EPS Rating and a stellar 98 overall rating,

The mutual fund has 60% shares outstanding. Fund ownership has been steadily climbing quarter-on-quarter, with 2,537 in June, 2,508 in March and 2,496 in December. Recent analyst moves include Needham & Company raising its price target on the stock from 193 to 200 and Berenberg Bank raising its target from 180 to 206, with both companies maintaining buy ratings.

To buy and see S&P 500 stock: Beer Company in the Buy Zone

molson coors ,tap), Coors & Miller beer maker 57.55 . With the cup-with-handle raised above the base point of purchase and is in 5% purchase area, That limit becomes 60.43. have one in stock Relative Strength Rating of 95, which means it has outperformed 95% of the stocks in the IBD database over the past 12 months.

Beer buyers are looking for cheaper ways to consume drinks with a pinch of inflation, such as single-can drinks and buying less-expensive brands. Molson Coors Miller is leading up to the need by marketing a new economy brand from High Life and other campaigns targeting the budget-conscious consumer.

The company will run a 30-second ad at the 2023 Super Bowl, the first time in 30 years. This happened when Anheuser-Busch gave up its exclusive rights to advertise alcohol during the Big Game. “It was a no-brainer. Literally the moment we saw the announcement, we got to work securing a Super Bowl spot,” said Michelle St. Jacques, Molson Coors’ chief marketing officer.

One drawback to their score is that analysts are looking for a decline in earnings per share for 2022. But EPS is expected to climb 8% in 2023.

The company meets eight out of nine criteria IBD ChecklistWith an overall rating of 98 out of 99 and an EPS rating of 87. Molson’s alcoholic beverage group, No. 23, holds the No. 1 position in the industry.

molson is 63% owned by mutual fundsA high percentage, which means there is big money behind it.

utility contractor breaks down

quanta services ,PWR) – a contractor for utilities, communications and energy companies – grew out of a cup-with-handle base, The stock reached 138.56 buy point and is in 5% buy zone at 145.49.

quanta is on IBD Leaderboard, It passes all nine criteria IBD Checklist,

The company is ranked No. 1 in the Heavy Construction Industry Group, which is No. 45.

Quanta has shown good quarterly EPS growth, with the exception of the September 2021 quarter, when EPS grew only 6%. In an improvement over the previous period, quarterly sales growth in the last three quarters ranged from 11% to 47%.

Analysts expect 28% EPS growth rate in 2022 and 9% growth in 2023. It has a three-year EPS growth rate of 24%. The company earns a perfect 99 overall rating and 97 for both the EPS rating and the relative strength rating.

Mutual funds own 59% of the stock, with the number of funds gaining momentum in the stock, quarter by quarter.

Quanta is scheduled to report earnings on Thursday, and stocks could take unexpected turns on the earnings report.

S&P 500 stock to buy and watch: Candy Maker Looks Sweet

hershey ,HSY) is in flat base With a buy point of 231.69. The base depth is an attractive 13% and a . is in second stage pattern According to MarketSmith, of the long term cycle. This is a sought-after feature.

Hershey’s ranks No. 1 in the Confectionery Foods Group. The group is ranked in the top 45 out of 197 industries.

Hershey’s has seen conservative but consistent quarterly EPS growth of 13% to 32% over the past three quarters. Sales growth has slowed from 6% to 16% at the same time. Hershey’s has a 91 EPS rating and a 97 overall rating.

Analysts expect 13% annualized EPS growth in 2022 and 8% growth in 2023. The company has an impressive 60% return on equity, a measure of profitability.

Mutual fund ownership continues to climb quarter-on-quarter, with a growth of 8.4% in March to June.

These S&P 500 stocks are worth an in-depth look at because the market is now in a definite uptrend.

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