The Dow Jones Industrial Average gained more than 150 points early Wednesday on a short-term average, while tech stocks bounced back from two days of heavy losses. Apple Pal, Micro .ft and Tesla advanced, but Datadog sank 13% on earnings.
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Among the Dow Jones leaders, Apple (AAPL) rose 1.7%, while Micro .ft (MSFT) rose 2% in today’s stock market. Meanwhile, Salesforce.com (CRM) is back from Tuesday’s sell-from with a 3% advance.
Tesla (TSLA) The three-day loss streak bounced back 1%.
Following earnings, Datadog (DDOG) sank 13% early on Wednesday.
The stock market is bullish in the buy zone or nearby stocks Berry Global (Window) and R.H. (RH)
Tech Giants Alibaba (Baba), JD.com (JD) and Nvidia (NVDA) has signaled a sell-off amid the current stock market turmoil.
JD.com, Microsoft, Microsoft, Nvidia and Tesla are all IBD leaderboard stocks.
Dow Jones today
On Wednesday, the Dow Jones Industrial Average rose 0.2%, while the S&P 500 rose 0.7%. The tech-heavy Nasdaq composite rose 1.55% in morning trade.
Among exchange traded funds, innovator IBD50 (FFTY) gained 2.5% on Wednesday. The Nasdaq 100-linked Invesco QQQ Trust ETF (QQQ) has a trading volume of 1.6%. Meanwhile, the SPDR S&P 500 ETF (SPY) rose 0.4%.
Amid a boom in the coronavirus stock market, the tech-heavy Nasdaq rose 28.8% during the year close to Tuesday. Meanwhile, the S&P 500 is up 9.7%, while the Dow is up 3.1% year-over-year on November 10.
Coronavirus updates
According to WorldMeter Data Tracker, U.S. The combined number of coronavirus cases confirmed in India topped 10.5 million on Wednesday. The total death toll from the virus has risen to around 245,000.
Since the outbreak on Wednesday, a total of Rs. Cases1. A total of 1.9 million cases have been reported with more evidence of deaths related to the virus.
Coronavirus Stock Market Rally
According to IBD’s The Big Picture, the stock market is back in the new industry after last week’s bullish price action.
“But the last two sessions suggest that institutional investors may show less appetite for high-priced technology companies and beaten industrial, financial, aging-school energy vacancies and retail companies,” Big Picture warned on Tuesday about the possibility of continued market volatility.
During market reform, investors should create watchlists of potential leaders. Now is the time to employ those watchlists.
Investors should continue to use the latest strengths to buy new breakouts. Start slowly with new purchases and see how they do. After raising cash during a recent correction, don’t rush to make a full investment at once. Try some new purchases. If they work, you can add them; If not, you can go back.
In particular, focus on stocks with strong relative strengths. Find them using the corresponding strength line. The price of RS line stock measures S&P 500 versus performance. If the stock is pushing the broader market, then the RS line is in the upward corner. If a stock performs worse than a broad market, then the line will come down.
Watch stocks include IBD long-term leaders, companies with stable earnings growth and price performance.
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Dow Jones Stocks: Salesforce Breakout Falter
Dow Jones leader Salesforce.com briefly rose above 270.26 by points in the double bottom on Monday, according to a Marketsmith chart analysis. The stock tumbled below its 50-day line on Tuesday. Shares are up 3% in morning trade.
Salesforce.com is the 2nd ranked artist on the Dow Jones Industrial Average with a 52.3% year-to-date advance as of Tuesday.
The top Dow Jones stock was shown near the A by Zone column in this week’s stocks.
Tech giants sell trigger signals
On Tuesday.3. Adding a d% dive, Alibaba reduced the loss by another 1% shortly before. Shares have plummeted after Chinese regulators issued draft rules aimed at curbing monopoly transactions by Internet companies.
The top Chinese stock is down more than 7% compared to the 299.10 flat-base entry. Investors should shorten their losses if the share falls below 7% from the buy point.
JD.com tumbled more than 8% below 85.49 by points in the handle cup on Tuesday. The stock may try to find support on its 50-day line. JD stock rebounded 2% from its initial loss on Wednesday.
After Tuesday’s sharp loss, Nvidia signaled a sell-off of 574.04 by points of cup-with-handle. Nvidia stock fell more than 7% below the new entry. Shares are up 3% in morning trade.
Shares in or near the buy zone: Barry Global, RH
Tuesday’s IBD 50 stock to pickup, Barry Global and Tuesday’s IBD stock the day, RH, are approaching a new buy point in the current stock market rally.
Barry Global is in the 5% buy zone above 51.77 buy points at double bottom, according to Marketsmith chart analysis. The buy zone is at 54.36. The stock gained another 1.5% in morning trade.
RH is near the 404.87 by point at the double bottom, as it rebounds its key 50-day moving average line. Shares rallied 4% early on Wednesday.
According to the IBD stock checkup, RH stock has 94 out of the full 99 IBD composite ratings. The composite rating – an easy way to identify top growth stocks – is a combination of basic and technical metrics to help investors estimate the strength of a stock.
Stock Market Earnings: Datadog
Amid solid demand for its cloud computing application monitoring software, Datadog reported Q3 earnings and sales results late Tuesday night. But revenue growth slowed with stiff competition in the cloud app monitoring market.
Shares fell 13% early Wednesday, well below their 50-day moving average line. The stock is up more than 25% from its 52-week high.
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Tesla stock
Tesla shares rebounded 1% on Wednesday to accelerate a three-day loss. The stock is still below its 50-day moving average line, as the stock continues to build support with a new buy point of 466. The shares are about 13% from the entry.
According to the IBD Leaderboard, “The stock makes an awkward shaped cup out of the handle. We brought it to the quarter position below the half position on Oct. 30 as it closed decisively below the 10-week line for the first time. Rally last week.” After April 9, it has now fallen below this benchmark. “
Dow Jones leaders: Apple Pal, Micro .ft
Among the top Dow Jones stocks, Apple Pal rose 1.7% on Wednesday. Shares are trying to keep above their 50-day line after pulling back to that key level last week.
The blue-chip giant is the No. 1 performing Dow Jones stock in 2020, up 58.0% from Tuesday’s close.
Software giant MicroSFT gained 2% on Wednesday and regained a portion of Tuesday’s 3.4% slide. Shares are below their 50-day line after regaining key levels last week.
To date, Micro .ft is one of the top stocks in the Dow Jones, up 33.8% from the close on November 10.
Be sure to follow Scott Lehotton on Twitter @IBD_SLehtonen For more on growth stocks and Dow Jones futures.
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