Thanks to solid gains, the stock market’s two-day losing streak came to an abrupt halt on Tuesday. According to the Big Picture column, Tuesday’s Nasdaq composite is more than 2.2%, and the Nasdaq100 is more than 2.2%. In addition, small-cap stocks performed better than their larger counterparts.
iShares Russell 2000 was one of the most vital exchange-traded funds globally. It almost surpassed its 50-day moving average with a 2% gain. The Standard & Poor’s 500 Index and the Dow Jones today ended the day by 1.4%.
IBD is a stock trading method that you may use to help you grasp the basics of CAN SLIM. Recognizing chart patterns is a crucial component of investing guidelines. In addition, IBD provides a range of increasing stock lists, including Leaderboard and SwingTrader.
Investors may also build watchlists on IBD MarketSmith to hunt for firms that achieve a specific level or construct their screens.
Dow Jones Stocks Today:
P&G (PG) released its quarterly financial results on Wednesday morning. Morning trading saw a 1.15% increase in profits and sales, above expectations. PG shares have a cup and handle pattern and a target price of 161.31. American Express and Caterpillar stocks are among the most popular investments in the Dow Jones index.
American Express, a company owned by Dow Jones, is also designing a cup with a handle base. It has a point of purchase of 194.45 points. The stock returned to positive territory on Tuesday thanks to the 50-day moving average has risen by 1.5%. AXP shares gained more than 1% during early Wednesday trading.
Caterpillar’s 227.15 targets for buying IBD SwingTrader were exceeded, putting IBD SwingTrader stock in the buy zone. The 5% buy zone is from 238.51 to 238.51. The stock’s RS line has been at its highest level since June 2021. The stock market gained 1.4% on Wednesday.
The current stock market rally offers an excellent opportunity to invest in four high-growth companies. Some of the most significant stocks to purchase and watch include Edwards, Murphy, Raytheon, Shell, and Ulta.
The IBD Leaderboard has placed this stock on its watch list. After gaining 4.4% on Tuesday, Edwards Lifesciences is just shy of the 125.21 purchase level with the handle. That resulted in a bit rise in EW’s stock price in pre-market trading on March 1.
On Tuesday, a slight rise in the company’s stock helped military contractor Raytheon Technologies finish just above the 104.44 buy point of a flat base. However, RTX stock was up only 1.3 percent on Wednesday at the opening bell.
The 5% buy zone extends to 59.04. On Wednesday morning, SHEL’s stock price was down about 0.5 percent from the previous day.
In the aftermath of Tuesday’s 3% gain, IBD MarketSmith chart analysis shows that Ulta Beauty shares are still just in the 5% buy zone beyond a cup with handle’s 408.83 purchase mark. The purchase zone rises to $429.27. At a new high, the stock’s relative strength line indicates that it is leading the market. Shares of ULTA rose 1% in early trading on Wednesday.
Late Tuesday night, Netflix released a mixed set of financial results. Sales fell short of expectations, but earnings exceeded expectations. The company lost 200,000 subscribers in the three months ending in March, which was disappointing. However, 2.5 million additional customers were projected by analysts and the firm itself during this period.
The price of NFLX stock dropped by 35% on Wednesday morning. In addition, about half the stock’s 52-week high was below its closing price Tuesday.
The next day, Tesla’s stock dropped 2%, after Tuesday’s 2.4 percent increase. Tesla is scheduled to release its quarterly financial figures on Wednesday night. FactSet estimates that the business will earn $2.26 per share on $17.65 billion in sales.
On Tuesday, a cup-with-1,152.97 handle’s purchase point is just over 11 percent away from the EV giant’s shares.
Following a buy point of 176.75 in a double-bottom foundation, Apple shares, which are part of the Dow Jones Industrial Average, activated the loss-cutting rule of 7 to 8 percent last week and had to be sold off. As a result, a handle purchase point at 179.71 is the most recent entry to keep an eye on. In the early hours of Wednesday, shares of the company were up a little under 1%.