These 3 gambling stocks are primed for strong gains ahead, according to the charts
While the major equity averages were rallying off their October 2023 lows, many gambling names did not participate in the rally.
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While the major equity averages were rallying off their October 2023 lows, many gambling names did not participate in the rally.
After a remarkably bullish January, which continued the strong market action in November and December, February has had a distinctly different feel. But while breadth conditions have certainly become less bullish than they were at year-end 2023, and the Hindenburg Omen has announced a potential end to the bullish phase, the growth leadership names
We'll break down the chart of Apple along with another technology name, Microchip Technology Inc., both of which have now tested and failed to eclipse key resistance levels.
If we see less than 50% of S&P 500 members remaining above their 50-day moving average, further upside above the key 5,000 level seems like an unlikely scenario before a more meaningful pullback for stocks.
Of the mega-cap growth stocks, Apple (AAPL) has certainly been a bit of a technical outlier in recent months.