The bear market has turned on Dow Jones as it fell about 180 points when the stock market closed on February 7.
The Dow Jones Industrial Average [DJI] fell by 0.7% from 25,265.81 to 25,169.53. This dip was of 220.77 points. Since January 3, the index has been mildly bullish from 22,686.
Dow Jones stock, Walmart [WMT] was the best performer as it registered a gain of 0.7%. The stock found support near its 50-day line and a discount trailer could be approaching a cup with handle’s 99.45 buy point. In the meantime, Apple [AAPL] had a fall of almost 1% and broke its six-day win streak. Apple had bottomed on January 3 at 142, after which it rallier as much as 23.6% off that price, reported Investors Business Daily.
Leaderboard stock Chipotle Mexican Grill was the one to report strong quarterly earnings and noted a 13% gain in the morning trade. The stock of the company hiked to a new level and according to the publication extended from a double bottom’s 501.08 buy point. The company is now clearing a high handle’s 544 entry. Given the stock’s opening price to be 568.42, this could be used to make a mark for their strong move.
Twitter may have beat the Street’s Q4 estimates, but the revenue guidance did disappoint investors. The stock of the social media website sold off approximately 10%, sending it back below its 50-day and 200-day moving average lines.
Looking at the market Twitter user @Arn68353558Arn said:
“Sell #dOWJONES bc NO TRADE DEAL WITH china or EU,, AlCAPONEDUMPY LIED TO ALL HUMANS on this planet ,,vote him out and give a democrats a chance to a decent healthcare ans priceson medica treatment instead of tax cuts to 1% richest people who gives nothing back,buyback shares :/”
While another Twitter user @09072021 noticed:
“The #Dow went over #Fibonacci 17,711 for the first time on November 18, 2014. In fits and starts, it clawed its way up to an intraday high of 18,351.36 on May 19, 2015. It took 6 months to rise 650 points and that was as high as it got for over a year. It collapsed…”.