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Six Stocks That Held Their 50-Day Moving Average Last Week

January 27, 2014 11:21 am
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Six Stocks That Held Their 50-Day Moving Average Last Week

Last week’s market action pushed many of the stock market giants below their 50-day moving average. Value investors spent the weekend pouring over their watch lists to find those stocks that might represent value, but there’s another way to look at the action.

What about the stocks that didn’t join the broader markets and fall below this key technical level? Here are a few names of note:

Boeing (NYSE: BA) – 2014 has seen markets move mostly sideways but Boeing has continued higher. After reaching a fresh high recently, the stock fell last week, but found strong support at its 50-day. This could be the perfect “buy on the dip” stock.

Carnival (NYSE: CCL) is a chart worth looking at. The end of 2013 saw a huge jump in the stock that pushed it to recent 52-week highs. Because of the price action over the past couple of months, its 50-day is still far below current levels, despite falling with the market last week. Carnival could see further selling if the market remains weak.

Delta Air Lines (NYSE: DAL) continues to soar. Another stock that hit new 52-week highs recently, it found weak support well above its 50-day. This stock looks healthy at recent levels and may be sitting at a compelling buy level.

Related: Is it Time to Worry Again?

Walt Disney (NYSE: DIS) felt the pain of a market in selloff mode last week, but it found support at its lower ascending trend line. With 2014 being a year of selling in this stock so far, it’s definitely vulnerable to further downside action if the markets continue to fall this week.

Macy’s (NYSE: M) continues to be the darling of retail despite a healthy selloff last week. The stock found support at its 20-day moving average, although momentum is to the downside. But that momentum is very recent and its current support level could be a buy point. The street clearly likes this stock. Betting against it right now could be a fool’s game.

Tesla (NASDAQ: TSLA) has staged quite a comeback since being torn down from its lofty valuation last year. The stock is up $40 in 2014. Its 50-day sits more than $35 lower and for a stock highly vulnerable to market conditions, Friday’s four percent move to the downside could have a been a lot worse.

Disclosure: At the time of this writing, Tim Parker had no position in the companies mentioned.

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