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 on increasing volume, support at 200 day
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 – did not quite make it to 200 day. hammer on daily
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: still above above 10 ema, holding at last high, still showing relative strength despite bearish engulfing bar on Jan 31st
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: still below 50 day, but bounce at prior resistance now support, if breaking 638 next support at 584
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 200 day and supported – earnings 2/26 after market close
TSLA – Tesla Inc
Tesla, Inc. is an American multinational automotive, robotics and clean energy company.
Thoughts: downtrend on accelerated volume, lost last low so probably going to 200 day, then 240 is next support level
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: another 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: down on increasing volume. support at 50 day, above gap area
CRWD – Crowdstrike Holdings Inc
CrowdStrike Holdings, Inc. is an American cybersecurity technology company based in Austin, Texas.
Thoughts: still down on increased volume
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 on continued crypto weakness. support in prior gap area, down to 180 next
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 (again)
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, support at prior gap area. Earnings 2/26.
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