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UnitedHealth Group, AbbVie and Shockwave Medical are this week's top stocks to watch. Each has an IBD Composite Rating of 94 or better, out of 99. The market uptrend remains under pressure, but it's a good time to build watchlists.

UNH stock and ABBV stock hit bullish new highs this week. A rising RS line, shown in blue in these charts, means that a stock is outperforming the S&P 500. The Relative Strength At New High stocks list highlights quality names with strong RS lines.

UNH stock jumped Friday as UnitedHealth earnings easily beat views. Rival health insurers Centene (CNC) and Humana (HUM) also moved back above buy points. AbbVie stock has formed a double-bottom base with a 156.99 buy point.

AbbVie slashed its 2022 earnings outlook in April after taking an unexpected hit during the first quarter. Its portfolio of blockbusters includes immunology drugs Humira and Rinvoq, as well as cancer drug Imbruvica and a migraine treatment called Ubrelvy. It loses Humira exclusivity next year.

Shares of Shockwave Medical popped 5.2% Friday to 209.90, gaining 3.4% for the week. Santa Clara, Calif.-based Shockwave develops products to help transform treatments for calcified cardiovascular disease. The company is poised for its first full profitable year, but has been in the black for the past three quarters.
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