The Dow Jones rebounded Wednesday above its 50-day moving average, but the blue-chip index, like the S&P 500 index and Nasdaq composite, is stuck in a trading range. But Dow Jones stocks Apple (AAPL), Microsoft (MSFT), Intel (INTC), Nike (NKE) and Visa (V) are all in buy zones.
Apple
Analysts have been split on whether Apple will be able to sustain revenue growth from its App Store and other high-margin services as iPhone demand stalls.
The Dow Jones stock is in buy zone after breaking out from a double-bottom base on May 4. The stock has been consolidating above its 179.04 buy point for the past few weeks, right around the top of the 5% chase zone that runs up to 187.99. The relative strength line, which tracks a stock’s performance vs. the S&P 500 index, remains near an all-time high.
Apple, an IBD Leaderboard stock, fell 0.2% to 187.50 on the stock market today.
Microsoft
Fans of the Redmond, Wash.-based firm now have even more reason to cheer, after the software leader surpassed Google parent Alphabet (GOOGL) in market value on Tuesday.
The world’s third most valuable publicly traded company is in the buy zone after clearing a flat base with a 97.34 buy point, MarketSmith analysis shows. The stock has struggled to stay above that entry, but rose 1% to 98.95 on Wednesday.
Intel
The chipmaking giant has helped drag the group upward as it made strong gains in the past seven months.
Intel stock is above a short flat-base buy point of 53.88. Shares initially cleared that entry on April 18 and several other times intraday, but didn’t actually close in buy range until May 9. That reflects Intel’s very messy chart in 2018, which is not great but also reflects the volatility in the Dow Jones and other stock market averages.
The stock is in buy range, rising 0.65% to 55.68 on Wednesday. Also, the RS line has steadily climbed in recent months.
Nike
Even a slew of sudden executive exits over misconduct allegations has not been enough to halt the sportswear giant’s momentum.
Nike is in the buy zone from a 70.25 entry out of an 11-week flat base. Nike stock was given a boost after Dick’s Sporting Goods (DKS) turned in a beat-and-raise quarter on Wednesday morning. Shares in the athletic apparel and shoe giant climbed 1.85% to 72.23.
Visa
The payment stock was given a solid tailwind by its most recent quarterly earnings report.
Visa stock is still in buy zone from a 125.54 correct entry It broke out from a five-week flat base. The credit card giant rose 0.8% to 130.67 on Wednesday.
