Top Technology Stocks MACD Trending
For short-term trades I am finding the MACD to be quite an effective indicator. While I am still early in using the MACD as an indicator for trades, I have started deeper observations (including observing individual stocks) to identify patterns and trading opportunities.
This note is observing the top technology stocks using the MACD. Most of them have risk to the downside.
AVGO: Price looks stalled between 790 and 820. The MACD is indicating price weakness and likely move to the downside from here. There is a gap below at 732 which is about -8.9% below current level.
TSLA: Has had 11 straight up days the last one being a big gap up. Logically I would say that gap at 235.23 which is -3.75% below current level gets filled first. But with this stock it is hard to say that because it usually defies all logic. The MACD is extended but past history shows it can be extended further before reversing.
NVDA: Has become tradable between 375 - 395 over the last several days. I have traded this range in the short-term. But I do not have an edge to say which direction it breaks out. Until then I will just keep trading this range.
MSFT: Price trending is to the downside with the MACD line crossover below the signal line. The histogram also indicating risk to the downside.
AAPL: Risk looks to the downside although I will not trade it.
GOOGL: MACD line crossed below the signal line and histogram went negative. Risk definitely to the downside for now.
META: MACD line just crossed below the signal line histogram also just went negative. Risk definitely to the downside for now.
AMZN: A gap above just got closed before price pulled back. The MACD line just about to cross below the signal line and the histogram also close to going negative. Price also way above the 150-day moving average. Risk is to the downside.