These well-known (or formerly well-known) Nasdaq 100 favorites are not joining in with this year’s upward trajectory of the index. Not everything in the index is headed to the sky, despite the feeling a reader might have from reading the business/financial media thus far this year.
These 7 Nasdaq 100 stocks have declining price patterns, just so you’ll know:
Baidu, Inc. (NASDAQ: BIDU) daily price chart:
It’s rallied off of the early July low but remains below the declining 50-day moving average and well below the declining 200-day moving average. The pattern is lower highs and lower lows for months now. The July buying volume is greater than usual and may indicate the possibility of a low in place.
CoStar Group, Inc. (NASDAQ: CSGP) daily price chart:
The stock is rallying off of the July low but so far is unable to make it back above either the 50-day moving average or the 200-day moving average, both of which are in down mode. Note that the 50/200-dma crossover took place in late June. That’s almost a 30% drop from the March peak to the July low.
Doller Tree, Inc. (NASDAQ: DLTR) daily price chart:
The 50-day moving average crossed over to below the 200-day moving average in mid-May. You can see how seriously the price gapped down in March, from $150 to just below $130, on the heaviest volume seen on the chart.
Mondelez International (NASDAQ: MDLZ) daily price chart:
It’s been lower highs and lower lows after the early February peak up near $75. Although the stock is rallying today, it remains below the down trending 50-day moving average and the down trending 200-day moving average. The 50/200-dma is apparent in early May.
PepsiCo, Inc. (NASDAQ: PEP) daily price chart:
The stock is rallying off the mid-July low but, so far, remains below the declining 50-day moving average and the declining 200-day moving average.
Starbucks Corp. (NASDAQ: SBUX) daily price chart:
The coffee shop stock continues to trade below both the declining 50-day moving average and the declining 200-day moving average. It’s been underneath both, on a closing basis, since November 2023. That late April gap down was accompanied by the heaviest volume on the chart.
Warner Bros. Discovery Inc. (NASDAQ: WBD) daily price chart:
The stock in mid-July has rallied to just above a declining 50-day moving average, but remains well below a relentless, declining 200-day moving average.
No artificial intelligence was used in the writing of this post.
More price chart analysis and commentary at johnnavin.substack.com.
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