Large Cap Tech Idles

Aug 23 17:08 2019 Print This Article

One of the interesting parts about the markets over the last few weeks has been the quiet price action in the large cap tech names, in contrast to Consumer Staples names like Wal-Mart (WMT) and Target (TGT) being fantastic performers this year. Of the list below, only Microsoft (MSFT) and Adobe (ADBE) made new highs in July before the August pullback started. Five of the seven are close to their support trend lines, while Netflix (NFLX) is currently trending down and does not have a support line.

When we look at some of the payment leaders and software stocks that have been powerful performers over the last year, we can see that these names continue to be at or near all time highs. While PayPal (PYPL) and ServiceNow (NOW) are down about 10%, the rest of the list looks set to build higher highs.

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StockCharts.com was founded in 1999 by Chip Anderson, a 10-year veteran of Microsoft. StockCharts.com is a website that provides online investors with high-quality financial charts for making better investing decisions. StockCharts.com is focused on Technical Analysis - the study of price history via charts. They provide award-winning analysis tools, market commentary from respected analysts like John Murphy and Martin Pring, and a huge collection of educational resources that can help anyone become a better, more informed investor.

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