Nvidia, Apple, And Microsoft May Face Potential Correction, Warns Expert, Points At Concerning Chart Patterns For 'Magnificent Seven' Stocks
Portfolio Pulse from Benzinga Neuro
Craig Johnson, chief market technician at Piper Sandler, has issued a warning about potential corrections in the 'Magnificent Seven' stocks, including Microsoft, Apple, and Nvidia. He highlighted concerning chart patterns such as lower highs in Nvidia and a gap down in Apple and Microsoft. This warning comes amid broader market concerns and predictions of a shift favoring small-cap stocks over large-cap tech companies.
July 19, 2024 | 7:22 am
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POSITIVE IMPACT
The iShares Russell 2000 ETF may benefit from a potential shift favoring small-cap stocks over large-cap tech companies.
Cathie Wood's prediction of a shift favoring small-cap stocks over large-cap tech companies could positively impact the iShares Russell 2000 ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Apple may face a potential correction due to a gap down in its stock chart, as highlighted by Craig Johnson.
Craig Johnson pointed out a gap down in Apple's stock chart, indicating a potential correction. This technical analysis suggests a short-term negative impact on Apple's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Microsoft may face a potential correction due to a gap down in its stock chart, as highlighted by Craig Johnson.
Craig Johnson pointed out a gap down in Microsoft's stock chart, indicating a potential correction. This technical analysis suggests a short-term negative impact on Microsoft's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nvidia may face a potential correction due to lower highs in its stock chart, as highlighted by Craig Johnson.
Craig Johnson pointed out lower highs in Nvidia's stock chart, indicating a potential correction. This technical analysis suggests a short-term negative impact on Nvidia's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust may experience volatility amid broader market concerns and potential corrections in large-cap tech stocks.
Craig Johnson's warning about potential corrections in large-cap tech stocks could lead to broader market volatility, impacting the SPDR S&P 500 ETF Trust.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50