Why Amazon, Netflix Look Compelling As Nasdaq Reverses Higher

TL;DR

The Nasdaq Composite index slightly increased, with Amazon and Netflix experiencing gains. Amazon shows potential for further growth, while Netflix recently broke out of a consolidation phase.

Transcript

it's alissa quorum and Justin Nielsen here with a look at the stock market today and on today's show we're gonna be taking a look at the charts of Amazon and Netflix so sold off pretty big during the correction now potentially viable right yeah absolutely so yeah let's take a look at them big caps were I mean those at least you know maybe it's a ba... Read More

Key Insights

• 😃 The Nasdaq Composite index is market-weighted, with certain components having a bigger influence on its gains.
• 🫥 Amazon shows potential for further growth as it breaks resistance at the 200-day line and has a base pattern.
• 🍉 Netflix broke out of a consolidation period but its overall base structure is not ideal, making it more suitable for short-term investors.

Questions & Answers

Q: How did the major indexes perform?

The Nasdaq Composite had a small gain, while the Dow and S&P 500 finished down.

Q: What were the gains of Amazon and Netflix?

Amazon had a 2% gain, breaking resistance at the 200-day line. Netflix had a 4.6% gain, breaking out of a shorter consolidation period.

Q: What is the significance of Amazon crossing above the 200-day line?

Crossing above the 200-day line is seen as a positive sign and indicates potential further growth for Amazon.

Q: Why is Netflix considered an opportunity for short-term investors?

Netflix broke out of a consolidation period, offering a potential opportunity for short-term investors to take advantage of its recent gains.

Summary & Key Takeaways

• The Nasdaq Composite index had a small gain of less than one tenth of a percent, with the Dow finishing down about six percent and the S&P 500 down three tenths of a percent.

• Amazon closed with a 2% gain, breaking resistance at the 200-day line and showing potential for further growth.

• Netflix had a 4.6% gain, breaking out of a shorter consolidation period, making it a potential opportunity for short-term investors.