As the Dow Jones Industrial Average and other stock indexes move lower Tuesday, e-commerce giant Amazon (AMZN), Spotify Technology (SPOT), Blackstone (BX), and Comfort Systems (FIX) are among the best names to watch in the current stock market.
With key stock indexes sticking close to their highs, investors should still be looking for new breakouts using The IBD Methodology. It's also important to raise and lower exposure methodically, as those positions gain or lose momentum.
Among the best-performing stocks in the Dow Jones index, Amazon stock is rebounding bullishly from its 50-day moving average line, placing it in a new buying area, according to MarketSurge chart analysis. Shares dropped along with the Nasdaq composite during Tuesday's trade. Amazon stock lost 1.5% midday.
Amazon stock backstory: The recent gains for Amazon stock come as Wall Street analysts are offering mostly positive takes on the company's grocery expansion plans. Amazon said last week it will soon offer same-day delivery of perishables in 2,300 U.S. cities and towns by the end of the year. Amazon previously only offered perishable items through its Whole Foods and Amazon Fresh brands. Now they will be available on the much larger Amazon.com, with the option to add fresh grocery items to standard orders.
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Two names to watch outside the Dow Jones index are Blackstone and Comfort Systems.
Financial leader Blackstone is about 7% away from a 181.32 buy point in a cup with handle. Shares declined nearly 1% Tuesday, threatening to extend a losing streak to four sessions.
Blackstone stock backstory: Blackstone is the world's largest alternative asset manager. Its $1.2 trillion in assets under management marked an increase of 13% in the second quarter year over year. Its services include managing some of the largest institutional funds, including endowments, sovereign wealth funds, and pension funds. Its retail products include mutual funds, ETFs and closed-end funds.
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Meanwhile, shares of Comfort Systems have just formed a bullish three-weeks-tight pattern that may provide a near-term buying opportunity. The standard buy point stands at 718.40, with an alternate entry at 708.73. Comfort Systems stock lost more than 1% midday Tuesday.
Comfort Systems stock backstory: Houston-based Comfort Systems designs, installs and services mechanical, electrical and plumbing systems for commercial and industrial customers. It's known for its ability to handle big, complex projects, including modular construction — which involves fabricating systems away from construction sites, then transporting them for installation.
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Another name to watch outside the Dow Jones is Spotify. The recent IBD Stock Of The Day cleared a short-term high of 717.27 Friday, providing an early entry for investors. Spotify stock is in a cup base with a buy point of 785, according to IBD MarketSurge charts. Shares edged lower midday Tuesday.
Spotify stock backstory: On Friday, Deutsche Bank analyst Benjamin Black reiterated his buy rating on Spotify, citing a new wave of international price increases. He has a 775 price target on Spotify stock. Black noted higher-than-expected price increases in Germany, Austria, Australia and Liechtenstein, saying they should help improve the company's profit margins.
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Following gains in recent sessions, Investor's Business Daily recommends a stock exposure of 80%-100% in the current market. That means that IBD readers should be adjusting their exposure by looking for new breakouts.
An essential resource for daily breakouts is IBD MarketSurge's Breaking Out Today list. It shows MarketSurge Growth 250 stocks that are rising past fresh buy points. Before making any investment decisions, be sure to check current stock market conditions. Also, use IBD Stock Checkup to view ratings for the most important fundamental and technical criteria.
To get chart analysis on stocks to buy and watch, as well as high-odds buy-and-sell alerts, check out IBD MarketSurge, IBD Leaderboard, and IBD SwingTrader.
These are the best stocks to watch that are near buy points, including Dow Jones index leader Amazon.
| Symbol | Company | Chart analysis |
| (AMZN) | Amazon | Rebounding from 10-week line. |
| (BX) | Blackstone | Cup with handle has a 181.32 buy point. |
| (FIX) | Comfort Systems | Forms three-weeks-tight with a 718.40 buy point. |
| (SPOT) | Spotify | New cup base offers a 785 buy point. |
Follow Scott Lehtonen on X at @IBD_SLehtonen for top stocks to watch and the Dow Jones Industrial Average action.
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