The Dow Jones Industrial Average coronavirus case fell again after losing a significant level of technical support to the stock amid rising global sales. Signs of a sell-off in a number of IBD 50 stocks were also spread. General Electric (GE) was a notable winner, however, with a surprising increase in earnings.
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Coronavirus case spike
According to WorldMeter Data Tracker, U.S. The combined number of coronaviruses confirmed in Wednesday was 9 million. The total death toll from the virus has risen to around 232,000.
Since the outbreak on Wednesday, a total of Rs. Cases 44. million have been reported, of which 1.117 million have died due to the virus.
U.S. Is being re-admitted to the hospital, although he is recovering well from the highs he reached in July. Daily deaths also remain stable below the 1,000 mark. However, the U.S. Assistant Secretary of Health Adam. Brett Giroire said today that the nation’s “epidemic response is another crucial issue.”
US stock market observed today |
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|---|---|---|---|---|
| Index | Symbol | Price | Advantages / disadvantages | Change% |
| Dow Jones | (0 DJIA) | 26757.33 | -705.86 | -2.57 |
| S&P 500 | (0s and p5) | 3304.15 | -86.53 | -2.55 |
| Nasdaq | (0NDQC) | 11108.42 | -322.93 | -2.82 |
| Russell 2000 | (IWM) | 154.47 | -3.71 | -2.35 |
| IBD50 | (FFTY) | 36.74 | -0.90 | -2.39 |
Last updated: 12:00 PM ET 10/28/2020 |
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S&P 500, Nasdaq Fall
The S&P 500 fell 2.4% between broad-based Brookbacks. The tech-heavy Nasdaq, meanwhile, was worse. The move stabbed him at his 50-day moving average. Losing this technical support level is a bearish signal.
The volume was relative as the bears were hitting the bulls hard. It was doing well on both the NYSE and the Nasdaq. According to preliminary data, it was around 60% against NYSE on Tuesday at the same time. Trading on the Nasdaq was up about 54%. Slam investors prefer to keep the volume low on the down day.
Sectors There was a decline in all the worst performing sectors of leave, technical and telecommunications services.
Innovator IBD E0 ETF (FFTY) was also hardening at a low, declining by 6.6%. There were only a handful of fascinating winners in the IBD50, led by Meridian Bioscience (VIVO), which is 3.3% and DR Horton (DHI), which increased by 1%.
Visa, Apple Paul Stock Down the Dow Jones Bleed Red
The Dow Jones Industrial Average was criticized for being low as the bears went into a frenzy. Around 12:10 p.m., the index cut some losses but it was still down 2.4%, all but one.
Includes worst performers American Express (AXP), which declined 3.2% and Apple (AAPL), which surrendered 3.4%. The move would cause Apple Pal stock to lose more ground on its 50-day line.
Insurance giant Passengers (TRV) was the only winner, managing to gain 2.5% and sharply reversing its intraday low from 116.33.
IBD 50 Stocks sells flash signals
For the market leader, the -0-day moving average – which calculates the moving average of the price over the last 50 trading sessions – acts as a resistance level during a downtrend.
If a stock breaks above the 50-day line in heavy volume and cannot be reversed, it often indicates that the buying demand is drying up and the stock’s stakes are ending. One or two bursts of institutional sales serve as suggestions for more profit going forward. It may take several weeks to get out of the situation due to the amount of stocks it holds.
A number of IBD stock stocks have lost their 0-day line between bearish sell-offs, although there is still time to regain this medium-term moving average. They include names like Amazon (AMZN), PayPal (PYPL), Micro .ft (MSFT), Nvidia (NVDA) and Internal (INTU) This is in addition to the choice Digital turbine (APS), Fortinet (FTNT), Lum research (LRCX) and Horizon Therapeutics (HZNP).
Investors should keep an eye on these stocks to see how they perform in future stocks.
GE Stock Services
Shares of General Electric jumped nearly 9% to 7.73 today. GE is working on the .6..67 by point of the base point of the stock cup which is part of a larger, far-ernda consolidation. However, the industrial giant is holding a resistance meeting on the 200-day line.
GE stock gained momentum after Wall Street’s earnings expectations were firmly beaten. Pay firm avoided the expected apparent loss in the third quarter. Instead, earnings fell 60% to 6 cents, and sales dipped 17% to .4 19.4 billion. Health care revenue fell 7% while aviation revenue fell 39%. Power segment revenue grew 3%, renewable energy grew 2%.
However, due to the weak commercial aviation business, GE burned out of 4.3 billion dollars in the first half of 2020. On July 29, Kalp warned on the second quarter earnings call that the “macro environment will deteriorate further” and predicted recovery in the long haul.
This stock is broken
Pet products e-commerce retailer Chevy (CHWY) burst out of a handled cup with 70.82 by points. Chevy’s relative strength line also hit a new hit, indicating a rally.
She was shocked to learn that Pete was launching a telehealth service for pets. “Connect-With-A-Wet”, which launched Wednesday, allows customers to get real-time advice from a licensed veterinarian about their dogs and cats. It’s free for customers who are part of the os toship subscription program, which delivers food and other goods.
Please follow Michael Larkin on Twitter here @IBD_MLarkin For more on growth stocks and analysis.
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