The Dow Jones Industrial Average turned lower on Wednesday as Bitcoin fell and Treasury yields continued to fall. Apple and Tesla shares rose sharply, while tech giants Alphabet, Facebook and Microsoft remained in new shopping zones.
Among the leaders of the Dow Jones Apple (AAPL) declined nearly 1% on Wednesday before turning higher, while Microsoft MSFT shares are up 0.1% in today’s stock market. Boeing (BA) returned to its buying range after Tuesday’s fall.
Tesla (TSLA) fell more than 1% on Wednesday. FANG Leaders Alphabet (GOOGL) and Facebook (FB) is in a buying range after breaks this week.
Among the best stocks to look out for are Nvidia (NVDA) and Yeti (YETI) are close to new points of purchase.
Alphabet, Boeing and Microsoft are among the IBD leaders. Nvidia featured in the “Stocks Close to Buy” column this week. Alphabet and Microsoft were in talks on Monday at IBD Live.
Dow Jones today
The Dow Jones Industrial Average fell 0.2% and the S&P 500 Index fell 0.1%. High-tech composite Nasdaq turned down 0.2% at noon.
The 10-year Treasury yield fell to 1.642% in morning trading after falling to 1.656% on Tuesday.
Among ETFs, the Innovator IBD 50 (FFTY) fell 0.6% on Wednesday. The Nasdaq 100 Invesco QQQ Trust ETF (QQQ) is up 0.2%. Meanwhile, the SPDR S&P 500 ETF (SPY) Index added 0.1%.
Stock Market Rally: Dow and S&P Hit New Highs
Amid the current rally in the stock market, the Dow Jones and S&P 500 industrial indices have declined from record highs on Tuesday.
Meanwhile, the high-tech Nasdaq retraced its key 50-day moving average on Thursday and broke resistance near the 13,600 level on Monday.
Tuesday’s Big Picture said: “While consumer stocks and other companies are benefiting from easing travel and contact restrictions, another sector has emerged as the stock market leader: housing and construction. Industrial group IBD has moved up to 110th place out of 197 groups with No. 140 four weeks ago. The Wood Industry Group was ranked 127th eight weeks ago and is 43rd today. In fact, some lumber suppliers are now among the most profitable companies as prices for lumber – the raw material for construction – skyrocket. “
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Bitcoin peaked on March 13, surpassing $ 61,556. The bitcoin price dropped below $ 56,000 on Wednesday before equalizing losses. Bitcoin fell 3% to $ 56,600 in morning trading, according to CoinDesk.
The Grayscale Bitcoin Trust (GBTC) fell another 3% on Wednesday, continuing its 4.4% fall on Tuesday.
Dow Jones: Boeing
Within the Dow Jones Industrial Average, Boeing returned to a buying range above 244.18 buying points at the base level. The 5% buying range rises to 256.39.
The stock fell 0.4% early Wednesday.
Promotions in purchase zones: Alphabet, Facebook
According to IBD MarketSmith chart analysis, IBD Leaderboard Alphabet is breaking through a new flat base buy point at 2145.24. The stock is in the 5% buying zone, which climbs to 2,252.50 amid slight gains on Wednesday.
According to a Leaderboard comment, “Alphabet held out better than other large-cap companies when the sector crashed. Support on the 21-day line helped the stock rally to new highs. The stock also found support on the 50-day line. The last base was the second step, which is positive. “
Facebook, the leader of FANG shares, is trading just above the buy point of the 299.81 cup with a handle. Facebook shares are up 0.5% on Wednesday and are still in the buying range.
Tech Titans Lead while Rally is suspended; Tesla returns to key support
Promotions to buy and watch: Nvidia, Yeti
Graphics chip maker Nvidia continues to push up the right side of the cup base, offering 615 buy points. Look for a potential handle to suggest a better-risk entry.
Nvidia shares fell 0.3% on Wednesday in anticipation of a rebound from a 0.9% fall on Tuesday.
According to the IBD Stock Checkup, Nvidia shares are at a solid 90 out of 99 99 IBD Composite Rating. The IBD Composite Rating helps investors easily assess the quality of a stock’s fundamentals and technical performance.
Daily IBD shares on Tuesday, Yeti, are trying to break the 76.87 buy point in the handle double bottom. The stock fell more than 1% on Wednesday morning.
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Tesla shares were down more than 1% on Wednesday morning and are aiming for a two-day winning streak. Tesla shares are following their 10-week line, which is a key resistance level.
Tesla could form a new base, but it is too early for a new optimal-risk buying point.
On February 22, Tesla broke the key 10-week moving average line, the critical support level. Tesla shares hit an all-time high of 900.40 on January 25 after rising 93% from 466 buying points in the order book.
Dow Jones Leaders: Apple, Microsoft
Among the leading Dow Jones stocks, Apple rose 0.6% on Wednesday, continuing its four-day streak of gains. Apple stock is recovering from its 40-week line and may soon try to reclaim its 10-week line again.
On February 18, Apple stock triggered a 7-8% sell-on-loss rule when they fell more than 7% below their buy point of 138.89 in the order book.
Microsoft has broken the buy point of 246.23 on a flat basis and is in a buying range.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.
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