The major indexes staged moderate losses, but the small-cap S&P 600 outperformed with a nearly 0.5% advance in stocks today. Walt Disney, meanwhile, broke out, and Apple continued its shallow pullback. X The Dow Jones industrial average, S&P 500 and Nasdaq composite all fell around 0.2% to around 0.4%. American Express (AXP) weighed on the Dow, falling more than 2%. But the financial services giant is getting institutional buying support near the 50-day moving average. Late Wednesday, AmEx reported a 25% boost in Q2 earnings to $1.84 a share, slightly ahead of Wall Street's estimate, on an 11% pickup in revenue. The top line missed some analysts' views. The Nasdaq 100 dropped 0.5%. But at 7365, the collection of the 100 largest nonfinancial companies on the Nasdaq still holds a healthy year-to-date gain of 15.1%. The Dow Jones industrials, trading near 25,095, are up just 1.5% following a 25.1% sprint higher in 2017. A New Breakout From The House Of Mouse Walt Disney (DIS) … [Read more...] about Small Caps Lead Stocks, But Disney Breaks Out; Is Apple Forming A New Base?
Is apple stock a buy now
The IBD Stock of the Day is Akamai Technologies (AKAM), which is hovering just below a buy point. Akamai is nearing the potential entry just after cloud services rival Amazon (AMZN) moved into its own buy zone last week. X Akamai: IBD Stock Of The Day The cloud-based internet content delivery provider is trading just below a cup-with-handle buy point of 77.69. The stock first tried to clear that level on May 22, but hit resistance and reversed lower. The buy point for Akamai Technologies, which is in IBD's Internet-Network Solutions group, remains valid because the stock only fell as much as 3.5% from that level. A sell signal for the stock would be triggered at a 7%-8% loss. Shares rose 1% to 76.74 in Monday's stock market trading. IBD Newsletters Get exclusive IBD analysis and action news daily. SIGN UP NOW! IBD Newsletters Get exclusive IBD analysis and action news daily. Tech Report Market Prep Please enter a valid email address Please select a … [Read more...] about IBD Stock Of The Day: This Amazon Web Services Rival Is Just Below A Buy Point
Apple (AAPL) and now Nvidia (NVDA) have broken out from shallow double-bottom bases. Chinese online sales giant Alibaba (BABA) and Workday (WDAY) are among the other top stocks moving toward buy points from the same bullish pattern. X East West Bancorp (EWBC) and RH (RH), formerly known as Restoration Hardware, are also forming double-bottom bases. These W-shaped patterns proliferates when the Dow Jones, S&P 500 index and Nasdaq composite fall and rebound furiously in several waves, which has occurred this year as investors worry over issues including the potential impact of a trade war with China. The double-bottom base is a W-shaped pattern. The second leg of the W must undercut the first leg, shaking out weak holders. The middle of the W must be above the midpoint of the broader pattern. The buy point is 10 cents above the middle of the W. Sometimes a handle will form, creating a slightly lower or higher entry. The recent crop of double-bottom patterns, including … [Read more...] about Apple, Nvidia Are Buys; Alibaba, Workday Lead 4 Top Stocks Setting Up In The Same Bullish Base
Even though Apple (NASDAQ: AAPL) recorded record revenue and earnings per share (EPS) in the first quarter of 2018, questions remain about the company's long-term prospects.That's at least in part because the company has struggled to create a hit product since it released iPhone in 2007. Of course, that's a very high standard as Apple Watch and Apple TV would be considered successful products at most companies.Apple has created a very high bar for itself. That at least raises the question as to whether investors should buy shares in the company or whether its best days are behind it.Apple generally releases a new iPhone or at least a refresh in the fall. Image source: Apple.The numbers look goodOn a purely numerical basis, Apple has been killing it. The company posted Q1 2018 revenue of $88.3 billion, a 13% increase over the same period a year ago. Earnings per share (EPS) were up over 2017 as well climbing 16% to $3.89."We're thrilled to report the biggest quarter in Apple's history, … [Read more...] about Is Apple Inc. a Buy?
Many on Wall Street are wondering if the once-leading FANG stocks –Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google parent Alphabet (GOOGL) – are out of favor. Given these top tech stocks' outsized influence on the S&P 500, there could be cause for investor concern. X The FANG stocks, which some have expanded to "FAANG" to include Apple (AAPL), were hit hard this week. Negative headlines continued to swirl around Facebook and Amazon, leading the tech sector lower. Are The FANG Stocks Dead? Kevin Quigg, chief strategist at Exponential ETFs, has even gone so far as to say that the FANG/FAANG trade is dead – for good. IBD Newsletters Get exclusive IBD analysis and action news daily. SIGN UP NOW! IBD Newsletters Get exclusive IBD analysis and action news daily. Market Prep Tech Report Please enter a valid email address Please select a newsletter GO x Thank You! You will now receive IBD Newsletters ALL DONE! Something … [Read more...] about Is FANG Stock Trade Dead As Facebook, Amazon, Netflix, Google Lead Tech Weakness?