Among the best performances since the beginning of 2019, the "Xs" take the lead. First of all, Xilinx, who wins 32%. The chip manufacturer has all the green lights. The third quarter saw an explosion in net income ($239 million compared to a loss of $12 million a year earlier). Netflix is once again on the podium, as the online content specialist sets its fifth year of growth, with a score of 27% for 2019.
On the other hand, Tesla is closing the gap with a 7% loss. The Californian company has just announced a major reduction in its workforce in order to further control its costs, in parallel with a reduction in the tax incentive on electric vehicles.
Qualcomm also lost more than 11%. The stock remains targeted by a hedge fund that anticipates a sharp deterioration in profits, following procedural threats by the competition authority in the United States (risk of patent sharing).
Technically, in daily data, the current recovery driven by the 20-day moving average could find a next blockage when in contact with the 6970 point resistance. This level corresponds to the moving average of 100 sessions, always negatively oriented.
It would require crossing this line to hope for 7280 points. On the other hand, a decline to 6400/6500 points would constitute a level to resume buying initiatives.