Here is the Swing Trading Magnificent stock report for Feb 24st where we saw continued market decline amid stagflation threat.
MAGNIFICENT 7
GOOGL – Alphabet Inc
Alphabet Inc. is an American multinational technology conglomerate holding company headquartered in Mountain View, California.
Thoughts: downtrend – looks like 200 day test is likely
AMZN – Amazon.com Inc
Amazon.com, Inc., doing business as Amazon, is an American multinational technology company engaged in e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence.
Thoughts: downtrend – more weakness looks to be realized, 200d test likely
AAPL – Apple Inc
Apple Inc. is an American multinational corporation and technology company headquartered in Cupertino, California, in Silicon Valley. It is best known for its consumer electronics, software, and services.
Thoughts: above 10 ema AND close above last high, still showing relative strength
META – Meta Platforms Inc
Meta Platforms, Inc., doing business as Meta, and formerly named Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California.
Thoughts: further decline to below the 50 day, above 10 week line on weekly, showing relative strength
MSFT – Microsoft Corp
Microsoft Corporation is an American multinational technology conglomerate headquartered in Redmond, Washington.
Thoughts: downtrend within range bound area
NVDA – NVIDIA Corp
Nvidia Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, and incorporated in Delaware.
Thoughts: tested 50 day but no real support demonstrated – earnings next week
TSLA – Tesla Inc
Tesla, Inc. is an American multinational automotive, robotics and clean energy company.
Thoughts: downtrend, holding at the last low. If we lose the last low probably down to the 200 day we go
MORE MAGNIFICENTS
RDDT – Reddit
Reddit is an American social news aggregation, content rating, and forum social network. Registered users (commonly referred to as “Redditors”) submit content to the site such as links, text posts, images, and videos, which are then voted up or down (“upvoted” or “downvoted”) by other members. Posts are organized by subject into user-created boards called “subreddits”.
Thoughts: hammer on the daily, let’s see where we go
NFLX – Netflix Inc
Netflix is an American subscription video on-demand over-the-top streaming service. The service primarily distributes original and acquired films and television shows from various genres, and it is available internationally in multiple languages.
Thoughts: now below the 21 ema, increasing volume on the continued decline – showing relative strength
CRWD – Crowdstrike Holdings Inc
CrowdStrike Holdings, Inc. is an American cybersecurity technology company based in Austin, Texas.
Thoughts: now sliced through the 50 day on increased volume, holding above the 10 week.. for now
COIN – Coinbase Global Inc
Coinbase Global, Inc., branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Coinbase is a distributed company; all employees operate via remote work. It is the largest cryptocurrency exchange in the United States in terms of trading volume.
Thoughts: downtrend, no longer supported at the 200 day – news today about 1.5B crypto hack on ByBit
NOW – ServiceNow Inc
ServiceNow, Inc. is an American software company based in Santa Clara, California, that supplies a cloud computing platform for the creation and management of automated business workflows.
Thoughts: downtrend, at 200day where it found some support
CRM – Salesforce Inc
Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides applications focused on sales, customer service, marketing automation, e-commerce, analytics, artificial intelligence, and application development.
Thoughts: downtrend, looks like its headed to 200 day unless earnings can inject support
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