fbpx
QQQ
+ 0.00
326.39
+ 0%
DIA
+ 0.00
344.23
+ 0%
SPY
+ 0.00
416.49
+ 0%
TLT
+ 0.00
137.08
+ 0%
GLD
+ 0.00
172.69
+ 0%

2 Popular Stay-At-Home Stocks Trading Higher Following J&J's Vaccine Pause

April 13, 2021 1:55 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
2 Popular Stay-At-Home Stocks Trading Higher Following J&J's Vaccine Pause

Peloton Interactive Inc. (NASDAQ:PTON) and Zoom Video Communications Inc. (NASDAQ:ZM) are both trading higher Tuesday after the U.S. FDA calls for a pause on Johnson and Jonhson's (NYSE:JNJ) COVID-19 vaccine amid some blood clotting cases.

Below is a technical look at each chart.

ptondaily4-13-21.png

Peloton Daily Chart Analysis: The stock has been able to find support near the $100 level multiple times in the past. This area was also once resistance and may hold as support again in the future.

The red lines on the chart following the trend show that the stock may be forming a head-and-shoulders pattern. This bearish reversal pattern could see the stock make a lower move if it breaks below the $100 support.

The stock is trading above the 200-day moving average (blue), indicating the sentiment in the stock has been bullish recently. This indicator is also another area where the stock may find support.

zmdaily4-13-21_0.png

Zoom Daily Chart Analysis: The chart shows that the stock looks to be forming into what technical traders would call a falling wedge.

The stock is making both lower highs and lower lows when looking at the chart. Connecting the highs and the lows shows that the highs are moving lower faster than the lows. This means they will eventually catch up and the stock may make a stronger price push in either direction.

The falling wedge pattern is considered a bullish reversal pattern and the stock would need to cross above the line that connects the highs before the trend in the stock may be considered changed.

The stock is trading below the 200-day moving average (blue), indicating the sentiment in the stock has been bearish recently. This indicator is also another area where the stock may find resistance.


Related Articles

Don't Miss these 15 Dividend Kings With 50+ Years Of Dividend Growth

By Bob Ciura read more

The SPY, QQQ And DIA All Plunged Today. Here's Why.

U.S. indices continued lower Tuesday amid weakness in tech stocks and potential profit-taking in financials and growth names.  read more

Defiance ETFs CIO Sylvia Jablonski Is Watching These 3 Stocks Ahead Of Earnings

This earnings season is expected to be remarkably strong, Defiance ETFs CIO Sylvia Jablonski said Monday on CNBC's "Squawk Box."  The CIO expects "stellar" earnings that should help define the state of the economic recovery, she said.  read more

Bulls Bought The Dip In Johnson & Johnson Stock: What's Next?

Johnson & Johnson’s (NYSE: JNJ) stock gapped down 3% Tuesday following the Food and Drug Administration and the Centers for Disease Control and Prevention’s recommendation that the use of its COVID-19 read more