Nasdaq Leads Mixed Session; Skyworks, Adobe, Carvana In Focus

TL;DR

Nasdaq climbs higher, Skyworks breaks out, Adobe prepares for earnings, and Carvana sees a strong move to new highs.

Transcript

good afternoon everyone and welcome to stock market today it's alyssa coram here i'm joined by ken shreve on this monday we're going to review the action for the major indexes it was a mixed session today but underneath the surface uh some interesting action for a number of growth stocks today ken yeah definitely elliot nice uh close for the nasdaq... Read More

Key Insights

• 👋 The Nasdaq continues to perform well, experiencing little institutional selling and providing a good environment for growth stocks.
• 😀 Skyworks Solutions is a 5G stock that is also a major supplier to Apple, making it an attractive stock.
• 😶‍🌫️ Adobe, known for its transition to cloud computing, has been consistently performing well with strong fundamentals.
• 😨 Carvana, despite not being profitable, has unique qualities as an e-commerce platform for used cars and has shown significant outperformance this year.
• 🥹 The leaderboard model portfolio includes top growth stocks with the goal of holding them for long-term gains.
• 💁 A webinar on trading like investing champions featuring Mark Minervini and David Ryan is scheduled, providing valuable educational information.
• 🤘 Investors can sign up for the webinar on the investors.com website.

Questions & Answers

Q: How has the Nasdaq been performing recently?

The Nasdaq had a strong month in November and continues its climb higher in December. It may pull back to its moving averages before deciding to pull back further.

Q: What are the key factors contributing to Skyworks Solutions breaking out?

Skyworks Solutions is a major Apple supplier and is recognized as a great 5G stock. It has shown a double bottom breakout and improvement in fundamental growth.

Q: What are the expectations for Adobe's earnings report?

Adobe, a pioneer in cloud computing, is expected to report another quarter of double-digit earnings and sales growth. The stock has been performing well and is above its 50-day moving average.

Q: How has Carvana performed despite not being profitable?

Carvana has shown strong revenue increases, even without profitability. As an e-commerce platform for buying and selling used cars, it has gained recognition and had a strong breakout to new highs.

Summary & Key Takeaways

• The Nasdaq outperformed in a mixed session, continuing its climb higher.

• Skyworks Solutions broke out of a double bottom base, showing improvement in fundamentals.

• Adobe is experiencing a double bottom breakout ahead of its quarterly earnings report.

• Carvana had a strong breakout to new highs, despite being not profitable yet.