Markets Hold Gains As Recovery Continues | Summary and Q&A

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July 15, 2020
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Investor's Business Daily
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Markets Hold Gains As Recovery Continues

TL;DR

Nasdaq continues to show strength near the 21-day moving average, while AstraZeneca experiences a significant gap up but requires caution. Chipotle rebounds off the 21-day line, and MasterCard shows potential for a breakout with sector rotation.

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Questions & Answers

Q: How has the Nasdaq performed in relation to the 21-day moving average?

The Nasdaq has shown strength and support near the 21-day moving average since April 6th, which indicates a steady recovery.

Q: What caution should be exercised with AstraZeneca's gap up?

AstraZeneca experienced a significant gap up due to speculation about clinical trial results. However, caution is required as this movement is substantial for a single day, and earnings are approaching.

Q: What is the significance of Chipotle rebounding off the 21-day line?

Chipotle's rebound off the 21-day line indicates a potential continuation of its upward trend. It remains within the buy range, making it potentially favorable for investors.

Q: Why is MasterCard showing potential for a breakout?

MasterCard is forming a downward sloping trendline, which could serve as an aggressive entry point. Additionally, sector rotation and strong performance in other sectors may benefit MasterCard's stock.

Summary & Key Takeaways

  • The Nasdaq continues to show strength and support near the 21-day moving average.

  • AstraZeneca experiences a significant gap up due to speculation about the publication of clinical trial results.

  • Chipotle rebounds off the 21-day line and remains within the buy range.

  • MasterCard shows potential for a breakout with the formation of a downward sloping trendline and sector rotation.

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