5 Best Stocks to Buy on Robinhood in July 2021

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In the absence of the once-popular Robintrack, retail traders have resorted to Reddit messaging forums like WallStreetBets and public or private telegram groups to share their trading ideas and check what their peers are up to lately.

Popular Website Data Usage swag stocks, which tracks comment volume and sentiment towards different individual names in the market based on WallStreetBets channel activity, we’ve compiled a list of retail traders’ favorite stocks for July 2021 in case you want to follow the trend. All of these shares can be purchased through the Robinhood trading platform.

67% of all retail investor accounts lose money when trading CFDs with this provider.

1.Snapchat (SNAP)

Snapchat (SNAP) Price Chart – View of 1-Day Candles with Multiple Indicators – Source: TradingView

Snapchat has been gaining traction among retail marketers since yesterday after the company reported upbeat second-quarter results that included a 116% year-over-year increase in revenue, positive Adjusted EBITDA of $117 million and an increase of 23 % of its user base.

According to data from Swaggy Stocks, the 7-day average comment volume for SNAP stocks jumped 5.4% while accounting for 12% of total comments made on WSB today.

This is an interesting shift in SNAP’s trend as commentary on the stock was relatively weak ahead of today’s earnings. This increase in retailer interest could push the price up in the following days as traders may decide to hoard OTM call options.

For now, today’s price action has retreated below its intraday highs as market participants appear to reject a move above the upper trendline shown in the chart. The following days will determine whether this rejection could lead to a rapid decline in the price of SNAP or if the price can continue to move towards new all-time highs.

2.Tesla (TSLA)

tesla shares
Tesla (TSLA) Price Chart – View of 1-Day Candles with Multiple Indicators – Source: TradingView

Tesla has long been a retailer favorite and commentary on the stock has increased lately as its quarterly earnings release date nears. Tesla plans to release its financial results on July 26, and so far the average comment volume has increased 1.6% over the past few days.

To date, Tesla’s comment volume represents over 8% of total posts on WallStreetBets with 78% positive sentiment and over 330 mentions. According to estimates compiled by Seeking Alpha, Tesla is expected to report adjusted earnings per share of $0.98 this quarter along with sales of $11.4 billion.

The latest price action shows that the $540 level remains a key support for the EV maker, while an intraday double bottom formation could be in play right now based on two bounces off the level. of $620 in the past few days.

If the company manages to surprise the market with its quarterly results, a bullish target for Tesla could be set at $770 for a potential 20% gain in the near term.

3. Intel Corporation (INTC)

Intel Corp stock
Intel Corporation (INTC) Price Chart – View of 1-Day Candles with Multiple Indicators – Source: TradingView

Chipmakers have been all the rage lately amid the ongoing shortages facing the industry. This was the result of an unexpected acceleration in demand from data centers and cloud providers and manufacturing capacity disruptions caused by the pandemic.

Intel released quarterly results yesterday, with GAAP revenue hitting $19.6 billion, beating analyst estimates of $17.8 billion for the quarter, while adjusted earnings per share ended the quarter at 1 $.28 or 14 cents above Street’s consensus forecast.

However, shares are down nearly 6% today as management expects supply-side constraints to continue to affect the company’s ability to grow earnings in coming quarters. .

Despite the slowdown, INTC stock has been gaining traction on the WSB forum, with average comment volume increasing nearly 3% in the past few days, while stock commentary accounts for about 5% of discussion. ‘today.

Sentiment, however, is turning negative, which could provide an opportunity to short INTC shares due to diminishing support for retailers. Supporting this bearish outlook, Intel shares are breaking below long-term support at $53, which could lead to further negative momentum for the chipmaker’s stock in the near future.

4. Advanced Micro Devices (AMD)

amd stock
Advanced Micro Devices (AMD) Price Chart – 1-Day Candles View with Multiple Indicators – Source: TradingView

Advanced Micro Devices is set to release its financial results covering the second quarter of its fiscal year 2021 next Tuesday and the chipmaker has also become a favorite among retail marketers as the community expects another booming quarter.

Data from Swaggy Stocks shows that average comment volumes for AMD have increased by 1.5% lately, while AMD accounts for 6% of total messages posted on the messaging forum today.

AMD has been a popular topic of conversation over the past 30 days and that indicates strong retail support for the stock. Meanwhile, positive sentiment currently sits at 80%.

According to data from Seeking Alpha, AMD is expected to report adjusted earnings per share of $0.54 on revenue of $3.6 billion. Importantly, AMD has generated positive revenue and earnings surprises over the past four quarters, increasing the likelihood that this quarterly release will turn out positive for the stock.

Looking ahead to price action, AMD managed to reverse a previous downtrend that emerged after its Q4 2020 earnings release, with an initial bullish target of $96 set for the stock if the uptrend current situation continues after the publication of the results of the second quarter.

5.Nvidia (NVDA)

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Nvidia Corporation (NVDA) Price Chart – View of 1-Day Candles with Multiple Indicators – Source: TradingView

Nvidia shares have surged lately on the company’s positive results and upbeat comments about its full-year performance. Additionally, the company recently completed a 4-for-1 stock split – an event that was generally seen as a positive development by retail traders although it did not result in any significant change in the company’s performance. .

At this time, messages on Nvidia Stock account for nearly 6% of new posts on WallStreetBets and ticker sentiment is remarkably positive at 89%. Meanwhile, Nvidia has remained a favorite issue among community traders over the past 30 days, with comment volumes remaining above 2% and reaching as high as 7% on several occasions.

Nvidia is expected to report financial results for the second quarter of its fiscal year 2022 on Aug. 18, and analysts expect adjusted earnings per share of $1.02 on revenue of $6.33 billion for the company.

Meanwhile, the price action shows that the latest rally has just created a second leg that could further support the stock price higher after it briefly pulled back from an all-time high of $209. If Nvidia delivers another surprise quarter, chances are the stock could soon retest this resistance as the strength of the uptrend increases the likelihood of Nvidia posting new all-time highs once the results are released.

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About Alejandro Arrieche PRO INVESTOR

Alejandro is an independent financial analyst with 7 years of industry experience. He writes technical content on economics, finance, investments and real estate and has also helped financial companies develop their digital marketing strategy. His favorite subjects are value investing, macro analysis and technical analysis. Other publications Alejandro has written for include The modest portfolioand Capital.com.

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