Market Lab Report - Premarket Pulse 5/11/16
Major averages rose on mixed volume on the rebound in oil with the NASDAQ Composite closing at its 50-day moving average but under its 200-dma. A handful of the big cap tech heavyweights have started to perform better such as AMZN and FB though others such as NFLX, GOOG, and AAPL continue to languish, often failing to display true leadership characteristics.
Semiconductor company Maxlinear (MXL) had a buyable gap up on a strong earnings report. Pretax margin 23.8%, ROE 38.9%, earnings and sales are soaring, institutional sponsorship has grown over the last 5 quarters. This is a thinner name so care should be taken in trading this one.
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