Nearly Half Of S&P 500 Stocks Trade Below 50-Day Moving Average: Which One Is The Cheapest?
Portfolio Pulse from Piero Cingari
Nearly half of S&P 500 stocks are trading below their 50-day moving average, indicating a divide in the market. Charter Communications, Archer-Daniels-Midland, and MarketAxess Holdings are the top three 'cheapest' stocks based on this metric. Conversely, NVIDIA, Meta Platforms, and Eli Lilly lead the 'richest' stocks, trading well above their 50-day averages. This disparity highlights the uneven recovery and bearish sentiment affecting a significant portion of the index.
February 14, 2024 | 5:49 pm
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NEGATIVE IMPACT
Archer-Daniels-Midland is 19% off its 50-day moving average, reflecting negative market sentiment.
Being far below the 50-day moving average may indicate undervaluation due to negative sentiment, affecting short-term performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Charter Communications trades 20% below its 50-day moving average, indicating significant bearish sentiment.
Trading significantly below the 50-day moving average suggests bearish sentiment and potential undervaluation, which could lead to short-term price volatility.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
MarketAxess Holdings trades 17% below its 50-day moving average, suggesting bearish market views.
The significant gap from the 50-day moving average could imply undervaluation and potential for short-term volatility.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Eli Lilly trades 21% above its 50-day moving average, indicating strong market approval and bullish sentiment.
Eli Lilly's performance above the 50-day moving average reflects strong market approval and bullish sentiment, likely impacting its short-term trajectory positively.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Meta Platforms trades 25% above its 50-day moving average, reflecting positive investor sentiment.
The substantial premium over the 50-day moving average suggests strong investor confidence and bullish sentiment towards Meta Platforms.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
NVIDIA trades 32% above its 50-day moving average, showing strong bullish sentiment and market confidence.
Trading significantly above the 50-day moving average indicates strong bullish sentiment and confidence in NVIDIA's market position.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90