Five stocks drive Nasdaq’s recovery with gains of more than 50%
Large-cap companies such as Apple, Alphabet-A (Google), Microsoft, NVIDIA, Amazon and Tesla ended the year among the worst-hit stocks on the NASDAQ 100, with declines of between 28% and 66% in 2022. Investors also showed concern about corporate profit prospects, which triggered strong selling on stock exchanges.
The Dow Jones Ind Average fell to 33,147.25 points at the end of the year with a negative variance of -8.8%, while the S&P 500 fell 19.4% to 3,839.50 units over the same period. The Nasdaq Composite Technical Index was the most punished by higher interest rates as it lost 33.1% in 2022, remaining at a level of 10,466.48 units.
On a technical level, independent analyst Roberto Moro indicates that “the NASDAQ 100 has broken out of the April and May highs with extraordinary strength to the point that it has already moved above last year’s August highs, which That was a 50% proportional correction of the entire drawdown from the all-time high. We are now 3.5% away from a key area, which is 14,370, which is exactly 61.8% of the drawdown. If it starts to go up, We are already talking about a neutral index in the long term.”
“As stocks to watch, I would say that Apple and Microsoft have performed great, but they are 4 and 8%, respectively, away from their all-time highs, while the index itself is 22% away from its all-time highs, so I think it’s essential to look for titles that have a good technical aspect but that have a long potential run. For example, I’d say Alphabet-A, Meta (Facebook), or Amazon; among the great ones I’d recommend these I’ll highlight all three. And I’ll also include Qualcomm, not because it’s doing particularly well, but because of the strength of the support it’s springing up; for Applied Materials and because it broke the S&P 500 to the upside. So I would include some of the more traditional, industrial, Nike, Salesforce and General Electric”, he added.
So far this year, computer components maker NVIDIA has soared 113.3%, social network Meta (Facebook) 106.35%, Argentinian e-commerce company MercadoLibre 58.3%, electric car maker Tesla 53.3% and biotech SeaGen 50.46%. These five values have been re-evaluated up to 50% so far this year.
Among these companies, SeaGen with 14.61% in the twelve months ahead, MercadoLibre with 13.6% and Meta (Facebook) with 9.6% have the most potential, while NVIDIA and Tesla present negative potential at this time. market.
Five other companies soared more than 40%, with global provider of vehicle resale and auction services Copart rising more than 46% on the Nasdaq, technology company Fortinet up 42%, Alphabet-A up 41.8% and cybersecurity firm CrowdStrike up 40%.
The other side of the coin are shares of a company that provides satellite radio and online radio services, Sirius XM Holdings, which fell 39.2% on the Nasdaq, renewable Enphase Energy 37.85%, Chinese electronics trading company JD.com 35.8%, pharmaceutical company Moderna 29.4%, automobile company Rivian 22.8% and Chinese Internet sales company PDD 22.7%.
