MARKETS: Dow, NASDAQ, S&P 500 on pace for worst day in 2 weeks — YF Premium is bullish on Mondelez International (MDLZ)
Yahoo Finance's Jared Blikre joins Myles Udland to break down the day's price action in stocks as well as a long in Mondelez International (MDLZ), a Yahoo Finance Premium Investment Idea. Not a subscriber? Start your free trial to join our next webinar on Wednesday, September 2nd at 2:00pm ET live!
Video Transcript
MYLES UDLAND: All right. Welcome back to The Final Round here on Yahoo Finance. Let's go to Jared Blikre now for a look at where things stand in this market, about 25 minutes to go. Jared.
JARED BLIKRE: Yeah, we're taking a look at the NASDAQ 100 heat map. And we're a bit off our lows in the indices, but still a lot of red out there. You can see, Apple and Alphabet each off more than 3%, along with Nvidia, by the way. Amazon off more than 4%. Tesla down 10%.
And just looking at the price action over the last 14 days, pretty choppy here, but still off of its lows. But you take a look at Apple and it's kind of the reverse situation. We're very close to its lows over this sell-off period from a few days ago.
And then just looking at the travel space, that's looking a little bit bitter. It's at least not off as some of the others. But a lot of the carnage is in the software space, although a few standouts, Zoom and DocuSign, are in the green.
Well, I want to head now to our Yahoo Finance Premium investment idea of the day. And that is a short in Mondelez. And that is coming by way of Trading Central. And if you want to look at what it would look like on our site, there it is. Here's our Yahoo Finance chart.
And we can see, this is the top, that it is putting in the head and shoulders top right now. And then here is the neck line. And Trading Central also saying that they have a target of $52.46. And this stock has formed a pattern called the head and shoulders, providing a target for intermediate term price targets in the range of $52.10 to $52.80. Price recently crossed below its moving average, signaling a new downtrend has been established.
Myles.
