Nasdaq Hits 2023 High; Amazon, Netflix, Freshworks Rise Off Key Support | Stock Market Today

TL;DR

Major indexes, including the NASDAQ, Dow, and S&P 500, all saw gains, with Amazon, Netflix, and Freshworks finding support at their 21-day moving averages.

Transcript

good afternoon everyone it's Ali Corman Ed Carson here with a breakdown of the action in today's session Tuesday December 12th where we saw gains for the major indexes in the NASDAQ now in new high ground for 2023 Ed yeah sort of had a nice uh gradual increase throughout the today uh want to take a look at a few stocks that have been fining support... Read More

Key Insights

• ✋ The major indexes, including the NASDAQ, Dow, and S&P 500, have been posting gains, with the NASDAQ reaching new high ground for 2023.
• 🙃 Stocks like Amazon, Netflix, and Freshworks have found support at their 21-day moving averages, suggesting further upside potential.
• 🉐 The market rally has been impressive since early November, with steady gains and potential breakouts in various stocks.
• 😘 It is important to stay vigilant and pay attention to market conditions, as the low VIX level could indicate a potential pullback.
• 🔇 Volume plays a crucial role in stock performance, and it would be beneficial to see increased buying volume for stocks like Netflix.
• 👀 Freshworks has turned profitable, and its recent volume profile and potential breakout make it an attractive stock to watch.

Questions & Answers

Q: What were the major indexes that posted gains during the session?

The NASDAQ, Dow, and S&P 500 all experienced gains, with the NASDAQ reaching new high ground for 2023.

Q: Which stocks found support at their 21-day moving averages?

Amazon, Netflix, and Freshworks all found support at their 21-day moving averages, indicating potential for further upward movement.

Q: What has been the overall trend of the market rally since early November?

The market rally has been impressive, with steady gains in the indexes and several stocks setting up for potential breakouts.

Q: Is the market rally expected to continue?

The rally has shown positive signs, with stocks finding support and potential breakouts. However, it is important to stay vigilant and make adjustments if needed, as market conditions can change.

Q: What is the significance of the 21-day moving average for stocks like Amazon, Netflix, and Freshworks?

Finding support at the 21-day moving average indicates that these stocks have a potential for further upward movement and may present buying opportunities.

Q: How has volume played a role in the recent performance of Netflix?

Netflix has seen impressive volume during its last quarterly report in October, but since then, volume has been relatively low. Increased buying volume and breaking above recent highs would be positive signs for the stock.

Q: What are some positive factors to consider about Freshworks?

Freshworks turned profitable about a year ago, which can provide momentum for the stock as sales growth translates into profit. The stock is also coming up to a buy point and has shown better volume profile recently.

Q: Where can readers find more information about Freshworks?

Readers can find more information about Freshworks in the stock of the day column on investors.com or in the news tab of Market Smith.

Summary & Key Takeaways

• Major indexes, such as the NASDAQ, Dow, and S&P 500, experienced gains during the session, with the NASDAQ reaching new high ground for 2023.

• Stocks like Amazon, Netflix, and Freshworks found support at their 21-day moving averages, indicating potential for further upward movement.

• The market rally has been impressive since early November, with the indexes steadily gaining and several stocks setting up for potential breakouts.