Tech companies are still growing

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04/10/2019 | 02:40 pm
1700 points acquired in a straight line since the end of 2018. The Nasdaq100 therefore experienced a real price boost in the space of a quarter. The benevolent behavior of the central banks, and particularly the Fed, played a role in triggering the index rise.

Among the components, some of them have historical backgrounds such as Mercadolibre with 72% gains (trade platform in South America). Only 10% of the stocks posted negative performances, proving the strength of the bullish wave. Thanks to its 26% earnings over the year, Apple is back in the lead in global capitalization with $943 billion, falling behind Microsoft (+18%) at $920 billion. The fight remains fierce with Amazon (+23%), in ambush, at 908 billion. The tech giants are leading the way once again, regularly spreading non-standard growth rates through innovation.

Graphically, the upward trend has not experienced any weakness since its inception. Moving averages confirm this positive environment with an unequivocal orientation. At this rate, the highest historical 7700 points are located at a neck and should be the objective of this upward movement. A marked decline below 7300 points would be required to weaken the configuration. But before that, some downside obstacles could block deeper consolidation.
Patrick Rejaunier 2019
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