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icrosoft (MSFT), Intel (INTC), YY (YY), Autohome (ATHM) and Citrix Systems (CTXS) are all tech stocks that found support at or near their 50-day moving averages. Their relative strength lines, which track stocks' performance vs. the S&P 500 index, are at or near consolidation highs.
Autohome most need another week or so in their current patterns before they have fully formed proper cup bases and buy points. That's not entirely a bad thing. With President Trump proposing huge, broad steel and aluminum tariffs and seemingly eager for an "easy to win" trade war, the Dow Jones and S&P 500 index sold off sharply last week, dropping back below their 50-day moving averages. The Nasdaq reversed higher on Friday, holding support at its 50-day moving average, but still had a rough week. IBD's market direction moved last week from confirmed uptrend to uptrend under pressure.
(Note: Thanks to Investor’s Business Daily)