The stock markets endured lots of turbulence and uncertainty during the coronavirus pandemic. The majority of the futures fluctuated, losing enormous amounts and gaining insignificantly. The market’s giants left the Leaderboard Watch List one after another, Tesla, Nvidia, and ServiceNow among them.
However, there are still several stocks, which stay on the board and continue to hit high. Amazon, Microsoft, Domino’s Pizza, and Adobe are among them. Analysts think that these companies have the potential to gain further in the coming days. And it seems, after the prolonged collapse and sell-offs, the market is preparing for a rebound, attempting a rally.
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This stock suffered from the coronavirus pandemic along with the others, but it managed to stay afloat. Adobe’s RS line continues to climb. The company is trying to retake its 40-week line currently.
Massive institutional demand for Adobe stock by the best mutual funds could mean more gains for the company in the future. However, it will take time for Adobe, as well as all other leading stocks, to repair the recent technical damage, according to Analysts.
Despite the worldwide crisis, the company’s earnings growth has been impressive, ranging from 20% to 37% during the last four quarters. Furthermore, it has shown 14% sales growth in both of the previous two quarters. Even though Microsoft has recently taken more severe hit than several other stocks on IBD Leaderboard Watch List, the stock stays in the green.
This stock, on the other hand, holds its 40-week moving average, trying to retake its 10-week line. According to MarketSmith’s longer-term monthly chart, Amazon stock is still near its all-time high. And the weekly chart shows that the company’s RS line is rising sharply.
The analysts don’t recommend buying this stock right now. However, they think that it will be a good catch after the coronavirus stock market sell-off subsides. Domino’s Pizza stock found support at its 10-week moving average. After that, the relative strength line for Domino’s stock has soared into the new-high ground.