These 5 Stocks Are Giving A Buy Signal This Week

| About: NVIDIA Corporation (NVDA)
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Strong fundamental growth has contributed to the success of these stocks in recent months and weeks.

Forcerank users' bullish sentiment to these stocks are reflected in steadily improving average user ranks and frequent top 3 finishes.

A fundamental and technical breakout support continued upside as we enter the final weeks of 2016.

Each week, Forcerank runs a variety of games covering different industries. What we have found, is that the top three ranked companies in their respective games deliver the biggest positive price movement for that week. This week, the winners feature popular names like NVIDIA (NASDAQ:NVDA) and Amazon (NASDAQ:AMZN).

Hanesbrands (NYSE:HBI) | Apparel: In an unprecedented move, Hanesbrands sits atop this week's apparel contest, ahead of retail giants like Nike (NYSE:NKE) and Lululemon (NASDAQ:LULU). Forcerank users gave the clothing company an average ranking of 4.6 compared to 5.9 in the previous week. This jump is a testament to robust fundamentals but also weakness from the other names on the list. Hanes has been successful in this challenging retail environment as many of its products have become wardrobe staples. Sales growth in recent quarters have also been supported by a star-studded list of celebrity endorsements, most notably, Michael Jordan. Shares have otherwise struggled in 2016, but are setting up to breakout before the close of the year. Its volume profile over the past 6 months is consistent with a share price in the range of $25 to $26, up to 6% higher than its current trading price.

Amazon | Ecommerce: Amazon finds its way back to the top of the ecommerce contest after a few weeks of subpar performances. The retail giant had been hit hard following the election results as many investors believed a Trump Administration would place trade restrictions that would greatly hinder sales growth. Amazon has almost fully recovered its losses and appears to be back on its way to $1000 price per share. Shares are now closing in at $800 where it will be met with a gap-up that needs to be filled. In recent news, Amazon is exploring the option of providing a live sports package for prime members. This is an unprecedented move as live sports have been the last piece of traditional cable packages that has not been replaced by a digital platform. Amazon's robust portfolio of products and services that continue to grow has put the tech giant in the driver's seat moving forward.

Salesforce (NYSE:CRM) | Large Enterprise Software: Salesforce is closing 2016 on a strong note after the first 10-11 months were anything but that. Its third quarter results reported last week proved it can continue to grow at a rapid clip without making a big acquisition. Revenue reported a 25% increase from a year earlier with earnings up 14% over the same time frame. Forcerank users pushed Salesforce to the top of its respective contest in response to the report with the average user rank rising to 3.9 from 4.8. Shares are seeing a technical breakout from the report and will continue to show upside as long as fundamental growth remains strong.

Disney (NYSE:DIS) | Media: Shares have been trending higher in the past month despite a weak third quarter report at the beginning of November. Large losses from ESPN are largely to blame for the results, but that hasn't had a significant impact on the stock. The breakout in mid-October caused a bullish crossover in the MACD and jump in on balance volume. Growth in its theme parks and entertainment businesses have offset ESPN woes. Disney is prepared to release several hit movies in the next month including Star Wars Rogue One and Moana featuring Dwayne The Rock Johnson. The company has also indicated that it's exploring the possibility of starting a 24-hour digital news channel. It's uncertain what Disney aims to gain from the move, but it's unlikely to be detrimental in the short term. On the theme parks side, construction of a new Frozen attraction in Hong Kong is about to get underway while an Avatar theme area is prepared to open in Orlando next year.

NVIDIA | Semiconductors: NVIDIA surprised the market yet again after the chipmaker reported blockbuster third quarter results. Investors were under the impression that expectations had been set so high that there was no realistic way the chipmaker could produce a standout quarter. Lo and behold, the chipmaker shattered expectations on the back of strong growth in automotives, cloud computing and virtual reality. Shortly following the report, Needham & Co. upgraded the stock to buy with a $100 price target, about $15 above its current trading price. The stock is likely to see a slight pullback after gaining nearly 30% in Friday's trading session, but is still primed to edge higher in the coming weeks. The case can be made that a technical gap down must be made, but solid fundamentals should help sustain the breakout.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.