When the S&P 500 and the Nasdaq 100 are at or near all-time highs, it’s unusual to see reasonably large market capitalization stocks going the other way: that is, down. Yet, ugly price chart patterns that clearly indicate that type of action can be found without too much trouble.
Each one of these has its reasons for investors unloading them but the beauty of chart analysis is that the reasons don’t matter. That’s why studying them is so helpful: rather than get distracted by “the story,” investors can locate identifiable price levels where change is occurring. And make decisions.
5 NYSE Stocks In Bear Markets Of Their Own.
CrowdStrike Holdings (NYSE: CRWD).
This week CrowdStrike dropped below the up trending 200-day moving average (the red line), an extraordinary slide considering it had hit new highs earlier in the same month. Now the 50-day moving average (the blue line) has turned downward.
The stock on Monday dipped below the previous support level from March. The relative strength indicator (RSI, below the price chart) had been signaling a negative divergence from price and is now in the “oversold” range.
Molina Healthcare (NYSE: MOH).
The stock’s 50-day moving average crossed below the 200-day moving average in late May, a signal of problems. By late June/early July, the price had taken out the May support level near $298. After a brief rally, Molina is back underneath the previous support and trades below both of the moving averages.
Savers Value Village (NYSE: SVV).
Now trading below down trending moving averages, both of them, the stock this week broke below the November 2023 low price — where buyers had shown up previously. Average daily volume is 826,000 shares, a relatively low level for an NYSE listed equity.
United Parcel Service (NYSE: UPS).
With a market capitalization of $107.25 billion, this stock has been down trending for months, but this week’s drop seems significant: those buyers who entered at the November 2023 low and the June 2024 lows are at a loss. Note that UPS had topped the down trending 200-day moving average just days earlier — and now this drop.
Companhia Vale do Rio Doce.
The Brazil-based metals company just dropped below all of the June lows. The stock trades below a down trending 50-day moving average and a down trending 200-day moving average. You can see the forewarning of the 50/200-dma crossover in mid-March.
More price chart analysis and commentary at johnnavin.substack.com.
No artificial intelligence was used in the writing of this post.
Stats courtesy of FinViz.com. Charts courtesy of Stockcharts.com.
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