Markets Followed Up But Couldn't Hold Gains | Summary and Q&A

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May 28, 2020
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Investor's Business Daily
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Markets Followed Up But Couldn't Hold Gains

TL;DR

Despite a strong start, the Nasdaq saw gains fade due to China trade tension headlines. Match Group shows strength with a breakout, while Trade Desk rallies back after a wild session.

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Questions & Answers

Q: What caused the fade in gains for the Nasdaq?

Late in the session, China trade tension related headlines spooked investors, causing the gains to fade.

Q: Why did Match Group's deep base raise concerns?

Bases that are over 40% deep are considered more failure prone, but the recent action and strength in Match Group suggests a better handle.

Q: How should investors approach Trade Desk given its volatility?

Trade Desk is a stock that tends to move a lot, so investors may need to loosen their stops and monitor the stock closely for potential entry points.

Q: Why should investors exercise caution with American Tower's recent gains?

While the stock has seen a strong streak of gains, it is advisable to wait for a pause as stocks that rise straight up from the bottom may be more susceptible to pullbacks.

Summary & Key Takeaways

  • The Nasdaq initially showed strong gains, but failed to hold them due to China trade tension headlines, potentially indicating stalling action.

  • Match Group gained over 3% and broke out over a short consolidation period, despite concerns about its deep base.

  • Trade Desk had a volatile session but closed above the 21-day exponential moving average, indicating potential support at that level.

  • American Tower saw another 2% gain, but caution is advised as the stock has risen sharply and may need to pause before continuing.

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