Business Corpus: Apple's Powerful Breakout Leads Top Moves By 5 Hot Stocks Now In Buy RangeAs the stock market looks to find renewed strength, your stocks to watch this week are five hot stocks now in buy range: Apple, 58.com, Paylocity, Idexx Laboratories and Cheniere Energy. The post Apple's Powerful Breakout Leads Top Moves By 5 Hot Stocks Now In Buy Range appeared first on Investor's Business Daily.

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As the stock market looks to find renewed strength, your stocks to watch this week are five hot stocks now in buy range: Apple (AAPL), 58.com (WUBA), Paylocity (PCTY), Idexx Laboratories (IDXX) and Cheniere Energy (LNG).

Hot Stocks With Top Ratings

Apple has a Composite Rating of 91 out of 99, while 58.com leads the group with a 97 and Paylocity has an 87. Idexx Laboratories has an 84 and Cheniere Energy lags with an 80. The Composite Rating takes into account a variety of fundamental and technical factors. Top stocks usually have high Composite Ratings before launching big runs.

Stock Market Outperformance

Apple, Paylocity, Idexx and Cheniere all have relative strength lines at new highs, with earnings fueling upside momentum. The RS line measures a stock's price performance vs. the S&P 500, so a new high for the line is especially bullish.

Apple

Apple hit a new closing high of 183.83 Friday, breaking out of a double-bottom base with a 179.04 buy point. In addition to the strong RS line, heavy volume is another bullish indicator for Apple's breakout.

Apple shares gained 13% for the week amid strong earnings, a massive buyback plan and news that Warren Buffett's Berkshire Hathaway added 75 million shares to its stake in the tech giant in Q1. Apple stock remains within the 5% buy zone.

58.com

Known as China's Craigslist, 58.com is holding in buy range after clearing a cup-with-handle buy point on April 30. Volume on the breakout day was strong, but has cooled off since.

Paylocity

Paylocity stock jumped 6.6% in heavy volume Friday. The move puts Paylocity shares above a flat base with a 57.26 buy point. The payroll-and-human-resource software firm topped quarterly earnings and sales estimates on Thursday. Enterprise software stocks have been market leaders, though fellow HR-and-payroll vendor Paycom (PAYC) sold off last week after giving in-line revenue guidance.

Idexx Laboratories

Idexx Labs is moving higher in big volume after reporting earnings, with shares climbing 8.4% Friday. The stock cleared a 202.36 cup-with-handle entry in the process, and is still in the buy zone. The veterinary diagnostics products maker reported a second-straight quarter of accelerating earnings growth.

Cheniere Energy

Finally, Cheniere shares are hitting their highest level in over two-and-a-half years. The 5.9% gain in strong volume Friday puts shares above a 60.32 buy point from a three-month-long consolidation. Cheniere and many other oil and gas stocks are benefiting from rising commodity prices.

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