Bulls Charge Ahead, But Pullback Risk Elevates; On Holding, GE, Carvana In Focus

from Stock Market Today With IBD · host Investor's Business Daily

The Nasdaq led a solid advance on Monday, with the 18,000 level looking like a magnet to the upside. But the faster the market rises, the harder it may pull back. The tech-heavy index is now nearly 9% above its 50-day moving average and well above its 21-day line. Today’s sharp move could mean the risk of a steeper pullback is now elevated. Among individual stocks, On Holding (ONON) reversed higher after testing a critical support area. GE Aerospace (GE) cleared a trendline entry and Carvana (CVNA) bounced off a key psychological level. Learn more about your ad choices. Visit megaphone.fm/adchoices

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This episode was published on June 17, 2024.

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