Week 43 Big Tech Trending and Performance
Here is the Big Tech trending as of today.
The Apple AAPL price has turned short-term bullish, and the price has also crossed over its 50-day moving average.
The AMD price has crossed over its 20-day moving average.
Amazon AMZN is now trending perfectly bearish.
Alibaba BABA continues to remain perfectly bearish.
Baidu BIDU continues to remain perfectly bearish.
Salesforce CRM continues to trend short-term bullish with price also above the 50-day moving average.
Google GOOGL is now trending perfectly bearish.
Intel INTC has turned short-term bullish.
Meta META has turned perfectly bearish.
Microsoft MSFT price has crossed below the 10-day and the 20-day moving averages. The 10-day did cross over the 20-day moving average, but I discount that.
Micron MU price slipped below its 10-day moving average.
Netflix NFLX continues to trend short-term bullish, and its price also remains above the 50-day and 200-day moving averages.
Nvidia NVDA turned short-term bullish, and the price also crossed over its 50-day moving average.
PayPal PYPL remains perfectly bearish.
Block SQ turned short-term bullish.
Tesla TSLA price crossed over its 10-day and 20-day moving average.
Zoom ZM price crossed over its 50-day moving average. It also continues to remain short-term bullish.
Here are the returns for the Big Tech stocks.
Only 8 out of the 17 generated positive ROI in the month of October. That is in the same month that all the major US markets returned positive ROI. Clearly the Big Tech was mostly a laggard even compared to the NASDAQ and NASDAQ 100 that returned around +1.6%.
So, what do we do with this. We can observe some obvious things like Netflix NFLX has been mostly strong recently although over the whole year-to-day it has been terrible. It is a turnaround story here. Apple AAPL has been less bad than others and also less bad than the major market indices.
Other than that, there is not much to talk about. Most of you know as I have stated before that I do not trade individual stocks. I do not need to as I can generate alpha by trading on leveraged market indices. Will go over this is more detail at some other time.