Stock Market, Dow Jones Volatile; Apple Stock Bottom?

The major stock indexes were trying to rebound in today’s stock market. The Dow Jones industrial average edged lower. Dow Jones stock Home Depot (HD) fell over 1% after its earnings results. Meanwhile, Apple (AAPL) stock dropped for a fourth straight day as a potential support level loomed. (For updates on this story and other market coverage, visit the Stock Market Today.)


The Dow Jones industrials recovered early losses and rose 0.1%. The S&P 500 moved up 0.4%. The tech-heavy Nasdaq rose 0.6%, as it looked to snap a three-day losing streak.

Stock Market Earnings: Advance Auto Parts Accelerates

Among companies reporting earnings, Advanced Auto Parts (AAP) jumped 8% to notch a new high after its Q3 results. Meanwhile, other top stocks among the auto parts retailers were holding up well.

National Vision (EYE) reported better-than-expected Q3 revenue results, resulting in volatile morning trade. At its early lows, the stock fell as much as 9% before trimming losses to 2%. The eyeglasses retailer had been forming a cup-shaped base with a 46.73 buy point.

Dow Jones Stocks: Home Depot Earnings, Apple Stock Nears Support

Home Depot stock declined more than 1% after its Q3 earnings results topped the Street’s estimates early Tuesday, while raising full-year guidance. The home improvement retailer fell as much as 21% from its 52-week high in late October before its recent rebound. Still, Home Depot is trading under its 50-day line, as a new base takes shape.

Fellow Dow Jones name Apple stock is nearing its long-term 200-day moving average line on the stock market today with an over-1% fall. Early Tuesday, Goldman Sachs cut its iPhone production estimates after key supplier Lumentum (LITE) reduced its shipment outlook Monday. The analyst also reduced the price target on Apple stock from 222 to 209.

Apple stock is right at its 200-day moving average. The 200-day line is a support level that could signal a potential bottom for the iPhone maker. Apple stock has found support near its 200-day line on three separate occasions since the start of the stock’s move back in late 2016.

IBD 50 Stocks: HealthEquity Looks For Support

Among the leading growth stocks, HealthEquity (HQY) is trying to find support at its 50-day line. On Monday, the HSA provider triggered the 7%-8% loss-cutting sell signal from a 100.09 cup-base entry.

Meanwhile, Leaderboard stock Ulta Beauty (ULTA) fell 0.3%, but is still out of buy range from a flat base’s 290.40 by point. The stock’s relative strength line hit a new high Monday.


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Originally posted 2019-09-19 23:25:10.


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