Major averages rose yesterday on lower volume. The NASDAQ Composite logged another all-time high, and this was bolstered by strong performance from the small-cap Russell 2000 Index, which led all other major market averages with a 1.48% gain on the day.
Top price performers that we have mentioned in prior reports and webinars as ones to watch for constructive pullbacks as potential buy points such as TWLO, BABA, NTES, NVDA, and GIMO continue to move higher.
Others such as MOMO, LN, and WB are still near support. Stocks such as PI may need more time to digest prior gains but should nevertheless be monitored for constructive pullbacks to prior areas of support. In general, investors should avoid buying into strength and instead seek to pick up shares of leading stocks on constructive pullbacks.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.