Dow Jones Jumps 350 Points In Stock Market Rally

The major indexes rallied in today’s stock market action with the Dow Jones industrial average rising more than 350 points in morning trade. Blue chip stock American Express (AXP) approached a potential buy point with a strong move Monday. (For updates on this story and other market coverage, visit the Stock Market Today.)


The Dow Jones industrials and the S&P 500 index advanced about 1.5% apiece. The tech-heavy Nasdaq composite rallied 1.7% in morning action. Last week, the Nasdaq composite breached its late-October lows with a 1.7% decline, sending the market trend back into a correction. With the sustained weakness in the stock market, investors should be focusing on stocks with strong relative strength lines.

American Express Leads Dow Jones Stocks

Dow Jones stock American Express used Monday’s market rally to move within striking distance of a cup-with-handle’s 110.48 buy point, according to MarketSmith chart analysis. The credit card stock advanced nearly 3% in morning trade and was one of the top-performing stocks among the Dow Jones industrials.

The stock’s relative strength line is at a new high, a bullish technical metric. The RS line measures a stock’s price performance compared to the general market.

Stock Market Earnings: Yeti In Buy Range Ahead Of Earnings

Later this week, software leader (CRM) will report its quarterly results Tuesday after the stock market close. Analysts expect the maker of cloud-based customer relationship management software to earn 50 cents per share on revenue of $3.37 billion. The stock is trading well below its 50- and 200-day moving average lines, as a new potential base forms.

Veeva Systems (VEEV) will report Wednesday after the stock market close. Analysts expect the medical software maker to earn 38 cents per share on revenue of $216 million. Shares are about 19% off their 52-week high after last week’s rebound from the 200-day line.

Meanwhile, IPO stock and recent breakout Yeti (YETI) will report on Thursday before the stock market open. Shares broke out on Nov. 19 above an IPO base’s 18.10 buy point. Early Monday, the stock reversed lower to fall 1.1% and is still in the 5% buy range that tops out at 19.01.

IBD Stock Of The Day Chipotle Nears Entry

Friday’s IBD Stock of the Day, Chipotle Mexican Grill (CMG), edged lower in early trade. Shares are approaching a cup-with-handle’s 501.08 buy point. The stock’s RS line is near new highs, a bullish technical metric.

IBD 50 Stocks: Twitter Leads

Among the leading growth stocks, Twitter (TWTR) was one of the top-performing stocks in morning trade, moving up over 3%. The social media company is forming a new base, but the pattern is 45% deep.

On the downside, Sprouts Farmers Market (SFM) declined over 1% as it fights for support at its 50-day moving average line. Shares are forming a flat base with a 29.77 buy point.


Stocks Jump Into Cyber Monday; This Tech Giant Rallies, Oil Prices Hold

How To Invest In The Stock Market

Top Stocks To Buy And Watch

Everything You Need To Know For The Stock Market This Week

Dow Jones Stocks To Buy And Watch

Amid Stock Market Correction, These 4 Stocks Are Potential Survivors% 

Source link

Originally posted 2019-09-19 23:26:25.


No comments.

Leave a Reply

error: Content is protected !!