3 US Stocks To Watch This Week For Good Profits

Vinod Dsouza
us stock markets
Source: Victor J. Blue / Bloomberg

The US stock market is rallying as the Dow Jones Industrial Average and S&P 500 Index hit new all-time highs. While Dow Jones touched a high of 39,282, the S&P 500 reached 5,189 in March 2024. The development pushed US stocks to hit new yearly highs delivering decent profits to investors after nearly a year of trading sideways. In this article, we will highlight the top 3 US stocks to watch out for this week that can generate good returns.

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3 Stocks in the US Market That Can Deliver Decent Returns

  1. Nvidia
nvidia us stocks market
Source: thisismoney.co.uk / ShutterStock

GPU and gaming graphics card maker Nvidia is the talk of the town in the US stock market lately. Investors who took an entry position in Nvidia this year made stellar gains as it sustainably scaled up in price. Nvidia is currently trading at $875 and analysts predict that the stock could climb above the $1,000 mark next.

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  1. Tesla
Source – Pixabay

The automatic and electric vehicle (EV) manufacturer Tesla witnessed a 30% drop in price this year in 2024. Tesla stocks fell from $202 to $175 this month and are struggling to keep up pace with the broader market.

However, a recent projection from Morgan Stanley indicates that the US stock Tesla could find support and hold on to its resistance level at $160. The forecast from Morgan Stanley indicates that Tesla stocks could reach $320 by the end of 2024.

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  1. Coinbase
Source – Inside Bitcoins

The cryptocurrency market is rallying as Bitcoin reached a new all-time high of $71,000 on Monday. Therefore, US stock Coinbase is attracting a new round of investors who are flocking to buy and invest in cryptocurrencies.

COIN touched $256 during the closing bell on Friday and also hit an all-time high of $270. Coinbase stocks have good potential in the US market as cryptocurrencies are attracting heavy bullish sentiments.