When assessing whether a stock is a buy right now or not, there are a few factors that you’ll want to consider. You’ll want to look at the growth of the company, whether their profits have increased over time, or if they pay dividends to their investors, as this is a sign of stability.
You’ll also want to take a look at the company’s relative strength index (RSI) which is a technical indicator that can inform you whether a stock is overbought or oversold. This tells you whether its momentum is accelerating or decelerating.
By considering these factors, you’ll be able to better identify opportunities in the stock market, making smarter decisions that could lead to greater returns on your investment.
For October 2021, we’ve already done the hard work for you and compiled a list of stocks that are currently a buy right now. Read on as we reveal the stocks to trade in this month.
Take-Two Interactive (NASDAQ: TTWO)
The video game industry has grown tremendously since the world’s first console was invented in 1972 and remarkably, the sector is now larger than the music and film industry combined and continues to grow.
Take-Two Interactive is one of the market leaders when it comes to video games, being responsible for the Grand Theft Auto and Red Dead Redemption franchises.
Take-Two’s stock has sky-rocketed in value in the last decade. In fact, if you invested $1000 ten years ago, you would now have a sizeable investment of $10,000. With the imminent release of another instalment in the Grand Theft Auto series, the company is in a great position for continued growth into the future. As a result, this stock could be a great buy if you’re looking to hold a long-term position in the stock market.
Old Dominion (NASDAQ: ODFL)
Following the supply line crisis, the leading trucking company Old Dominion has hit some impressive highs this month. The company currently boasts a Composite Rating of 99 out of a possible 99, and between July and August, its revenue has experienced a 15.5% increase. This growth reflects the high levels of demand that the company has experienced following the supply line crisis, where there have been insufficient truck drivers to deliver goods.
The company is likely to experience continued growth as it plans to inject additional funding to expand its network of drivers, to keep up with demand. Experts predict that Old Dominion could increase its third-quarter earnings by 37% and this, paired with its attractive technical indicator recordings, make it a great buy.
By learning how to trade stocks online, you could easily start trading in Old Dominion stock through an online trading platform, along with a multitude of other value and growth stocks.
Crowdstrike Holdings (NASDAQ: CRWD)
The cybersecurity company Crowdstrike Holdings is an impressive growth stock that deserves your attention. The company only went public in 2019, and the fact that it is such a young stock, does present itself with higher levels of risks than if you were to invest in one of its more mature competitors.
Since going public however, Crowdstrike Holdings has experienced growth of 380%. Since analysts believe that this should only continue to increase, it could be worth buying a position in this young prospect.
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The stock market can present investors with great opportunities to profit because of its volatile nature. This volatility does however also put your capital at risk, so it’s vital that you conduct thorough research and understand the factors that can cause prices to rise.
By using an online trading platform, you can speculate on the prices of some of the world’s greatest stock prospects right now. You can also implement risk management tools that can limit the amount of capital that you’re able to lose on a trade, providing you with some peace of mind.
