Market Rally Shows Promise; How To Game Plan For A Key Week – Investor's Business Daily

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. A new stock market rally attempt is underway as another wild week on Wall Street ended on a high note. Apple stock reclaimed its 50-day line while Tesla (TSLA) held that key support. Meanwhile, many top stocks are already showing promising charts, including Alibaba (BABA), Target (TGT), Nvidia (NVDA), Broadcom (AVGO), and Sea Limited (SE).

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After the long stock market rally came under increasing pressure, IBD changed the market direction to “correction” on Wednesday. But on Thursday and especially Friday, the stock market rebounded. The Nasdaq composite could confirm a new uptrend any day. A slew of leading stocks are setting up or flashing bullish rebounds or early entries.

Apple (AAPL) is once again above its 50-day line while fellow Dow Jones giant Microsoft (MSFT) isn’t far off. Tesla stock tumbled last week amid wild swings, but held above its 50-day line and finished just over its 21-day exponential moving average.

Target stock has a formed a base while Alibaba has pulled back to its buy point and is finding support at its 50-day line. Nvidia has rebounded from its 10-week line while Broadcom stock has traded tightly amid market gyrations. Sea Ltd. is moving toward record highs in a short consolidation. All five stocks have relative strength lines at or near highs, reflecting their outperformance vs. the S&P 500 index.

But there has not yet been a follow-through day to confirm the new stock market rally attempt. So investors should maintain a defensive stance heading into next week. But investors should game plan for offense and defense.

Why This IBD Tool Simplifies The Search For Top Stocks

Nvidia stock, Tesla, Microsoft are all on IBD Leaderboard, while Alibaba is on the watchlist.

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Market Rally Shows Promise; How To Game Plan For A Key Week – Investor's Business Daily

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. A new stock market rally attempt is underway as another wild week on Wall Street ended on a high note. Apple stock reclaimed its 50-day line while Tesla (TSLA) held that key support. Meanwhile, many top stocks are already showing promising charts, including Alibaba (BABA), Target (TGT), Nvidia (NVDA), Broadcom (AVGO), and Sea Limited (SE).

X

After the long stock market rally came under increasing pressure, IBD changed the market direction to “correction” on Wednesday. But on Thursday and especially Friday, the stock market rebounded. The Nasdaq composite could confirm a new uptrend any day. A slew of leading stocks are setting up or flashing bullish rebounds or early entries.

Apple (AAPL) is once again above its 50-day line while fellow Dow Jones giant Microsoft (MSFT) isn’t far off. Tesla stock tumbled last week amid wild swings, but held above its 50-day line and finished just over its 21-day exponential moving average.

Target stock has a formed a base while Alibaba has pulled back to its buy point and is finding support at its 50-day line. Nvidia has rebounded from its 10-week line while Broadcom stock has traded tightly amid market gyrations. Sea Ltd. is moving toward record highs in a short consolidation. All five stocks have relative strength lines at or near highs, reflecting their outperformance vs. the S&P 500 index.

But there has not yet been a follow-through day to confirm the new stock market rally attempt. So investors should maintain a defensive stance heading into next week. But investors should game plan for offense and defense.

Why This IBD Tool Simplifies The Search For Top Stocks

Nvidia stock, Tesla, Microsoft are all on IBD Leaderboard, while Alibaba is on the watchlist.

Read More Here...

Bulls And Bears Of The Week: Chevron, Oracle, Twitter And More

Benzinga has examined the prospects for many investor favorite stocks over the past week.

Both bullish and bearish calls in coronavirus vaccine contenders were seen this week.

Social media platforms were represented in both categories as well.

September has a reputation as a harsh month for the markets, and it certainly has lived up to that reputation this year: volatility continued last week for various reasons.

The Dow Jones industrials and S&P 500 ended the week essentially flat, with the Nasdaq only a little better, but all three indexes are down more than 4% since the start of the month, with the Nasdaq retreating about 8%.

It was also a week in which the race for a COVID-19 vaccine continued, and the world’s leading electric carmaker held its annual event – which failed to help the stock much.

As usual, Benzinga continues to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week’s most bullish and bearish posts that are worth another look.

Bulls

Shanthi Rexaline’s “Moderna Will Start To Outrun Coronavirus Competition In 2021, Analyst Says” details an analyst’s take on why investors should buy the dip in Moderna Inc (NASDAQ: MRNA) shares.

5 Reasons Pivotal Upgrades Twitter To Buy” by Jayson Derrick discusses the many points of logic behind the featured analyst’s new bullish stance on Twitter Inc (NYSE: TWTR) stock.

In “Chevron Has ‘Significant Strategic Advantage,’ MKM Says In Bullish Initiation,” Priya Nigam reveals why Chevron Corporation (NYSE: CVX) is expected to generate huge free cash flow next year.

A new analyst has jumped in the bullish camp for DraftKings Inc (NASDAQ: DKNG), according to Chris Katje’s “DraftKings Can Reach $4.3B Revenue By 2030: Macquarie.”

For additional bullish calls, also have a look at “Analyst: Here’s Where The S&P

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Comic: Volatility To Continue As Investors Shift Focus To Trump-Biden Debate

Investing.com – Stocks on Wall Street ended higher in another volatile session on Friday, clawing back some of their hefty losses for the week, as tech shares rallied.

The Dow Jones Industrial Average jumped 359 points, or 1.3%, to close at 27,173.

The S&P 500 rose 1.6% to 3,298, while the Nasdaq Composite surged 2.2% to settle at 10,913.

Despite Friday’s rally, both the Dow and S&P 500 suffered their fourth weekly loss in a row, their longest losing streak since August 2019. The Dow fell 1.8% on the week while the S&P 500 declined 0.6% over the same timeframe.

The Nasdaq meanwhile had its first weekly gain in four weeks, rising 1.1%.

U.S. stocks could face more volatility next week as President Donald Trump and Democratic nominee Joe Biden face off in their first debate ahead of the November 3 elections.

The debate – the first of three – will take place in Cleveland, Ohio on Tuesday from 9:00PM ET to 10:30PM ET.

Betting services currently view the race as almost a coin flip, though Biden currently has a modest lead in the polls.

Uncertainty related to the election, including the possibility of a delay in announcing a winner, has weighed on market sentiment in recent weeks, with the S&P 500 tumbling 10% from its record high earlier this month.

To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics

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U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.34%

At the close in NYSE, the Dow Jones Industrial Average gained 1.34%, while the S&P 500 index climbed 1.60%, and the NASDAQ Composite index climbed 2.26%.

The best performers of the session on the Dow Jones Industrial Average were Boeing Co (NYSE:BA), which rose 6.83% or 9.98 points to trade at 156.03 at the close. Meanwhile, Apple Inc (NASDAQ:AAPL) added 3.75% or 4.06 points to end at 112.28 and UnitedHealth Group Incorporated (NYSE:UNH) was up 3.36% or 9.84 points to 302.50 in late trade.

The worst performers of the session were Dow Inc (NYSE:DOW), which fell 0.80% or 0.37 points to trade at 46.04 at the close. Nike Inc (NYSE:NKE) declined 0.42% or 0.52 points to end at 124.23 and Merck & Company Inc (NYSE:MRK) was down 0.26% or 0.22 points to 82.93.

The top performers on the S&P 500 were Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) which rose 13.67% to 16.63, Carnival Corporation (NYSE:CCL) which was up 9.68% to settle at 15.07 and WestRock Co (NYSE:WRK) which gained 8.32% to close at 35.81.

The worst performers were Apache Corporation (NASDAQ:APA) which was down 9.63% to 9.85 in late trade, National Oilwell Varco Inc (NYSE:NOV) which lost 6.31% to settle at 9.51 and TechnipFMC PLC (NYSE:FTI) which was down 4.42% to 6.06 at the close.

The top performers on the NASDAQ Composite were Urban One Inc Class D (NASDAQ:UONEK) which rose 91.06% to 1.650, CBAK Energy Technology Inc (NASDAQ:CBAT) which was up 81.48% to settle at 2.4500 and Standard AVB Financial Corp (NASDAQ:STND) which gained 72.97% to close at 32.45.

The worst performers were Sunworks Inc (NASDAQ:SUNW) which was down 46.82% to 2.090 in late trade, Peck Company Holdings Inc (NASDAQ:PECK) which lost 34.94% to settle at 5.14 and SPI Energy Co Ltd (NASDAQ:SPI) which was down 23.74% to 9.990 at the close.

Rising stocks outnumbered declining

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Nasdaq Soars 150 Points, Fueled By Big Gains For Tesla, Apple, Qualcomm; Boeing Leads Dow Jones – Investor's Business Daily

The Nasdaq composite held a solid gain in afternoon trading Friday, up 1.4%. Penn National Gaming (PENN) led the gaming/equipment group to a gain of nearly 6%. Shares soared more than 9% in heavy volume after slumping 7% Thursday, after the company filed to sell 14 million shares. Top performers in the Nasdaq 100 included Apple (AAPL), Tesla (TSLA), Workday (WDAY) and Qualcomm (QCOM).

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The Nasdaq’s advance-decline line has been trending lower for several weeks now, but breadth was OK Friday, with advancing stocks beating decliners by slightly better than 2-to-1.

Among recent IPOs, Snowflake (SNOW) rose 2%; Unity Software (U) jumped nearly 8%; AmWell (AMWL) added 1%, Jfrog (FROG) picked up 2.5% and GoodRx (GDRX) gained 5%.

Helped by big sales growth in recent quarter, all five new issues have the potential to be new stock market leaders, but it’s best to wait for IPO bases to form.

Costco (COST) lagged in the Nasdaq 100, down 2%, despite a strong earnings report. Revenue growth accelerated from the prior quarter, up 12% to nearly $53.4 billion. Same-store sales rose 11.4%, better than the 7.8% consensus estimate. Digital sales jumped 91%.

In the Dow Jones Industrial Average, Boeing (BA) led the way, up 4%. Strong performances from Apple and Microsoft (MSFT) helped lift the blue-chip index to a gain of 0.5%.

U.S. Stock Market Today Overview Index Symbol Price Gain/Loss % Change Dow Jones (0DJIA) 26971.22 +155.78 +0.58 S&P 500 (0S&P5) 3273.26 +26.67 +0.82 Nasdaq (0NDQC ) 10812.21 +139.94 +1.31 Russell 2000 (IWM) 145.87 +1.80 +1.25 IBD 50 (FFTY) 36.05 +0.29 +0.81 Last Update: 1:26 PM ET 9/25/2020

The S&P 500 was up 0.8%, helped by bullish gains for cruise line operators like Norwegian (NCLH), Carnival (CCL) and Royal Caribbean (RCL). Leaderboard stock ServiceNow (NOW)

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