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Look at All These Big Tech Stocks Now Below Their Recent All-Time Highs

  • On Monday, the Dow Jones Industrial Average and Dow Transports set all-time intraday highs, while the Nasdaq Composite closed below its 50-day simple moving average. The tech-heavy Nasdaq could end this week with a negative weekly chart led by six popular momentum stocks.

    Apple (AAPL) set its all-time intraday high of $156.65 on May 15. Alphabet (GOOGL) and Netflix (NFLX) peaked on June 6 and June 8, respectively, with all-time intraday highs of $1,008.61 and $166.87. Tesla (TSLA) , by far the biggest gainer year to date and since its post-election low, set its all-time intraday high of $384.25 on June 14. Amazon (AMZN) peaked at $1,017.00 on June 19, with Facebook (FB) setting its all-time intraday high of $156.50 on June 26. All five ended Monday below their 50-day simple moving averages.

    Back on June 9, I recognized Tesla's leadership, but recommended that investors reduce holdings on strength to my semiannual risky level of $381.28, which was doable as the stock set its high on June 14. On June 10, I reiterated my Tesla call and stated that all six momentum stocks had overbought and very risky weekly charts.

    The jury is still out on my June 19 call that Apple was ripe for a fall of 25%. The stock closed Monday 8.3% below its May 15 all-time high.

    In my last story on mojo stocks on June 23, I recommended that these six stocks were the "big tech stocks to sell before the summer correction". Let's look at the weekly charts and new monthly, quarterly and semiannual value levels and risky levels.

    Apple, Facebook and Alphabet are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL, FB and GOOGL? Learn more now.

  • The Momentum Stock Scorecard

    All six mojo stocks set their post-election lows on Nov. 14. Netflix is already in correction territory...

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