Black and white. Humphrey Bogart push Ingrid bergman to get on a plane. They will never see each other again. But they will always have Paris. And for us, one of the most unforgettable farewells in cinema that, in addition, helps us to link with the rebound of Nasdaq. And it is that investors will always have the technological ones, rising idealized and majestic, like the skyline of the French capital.
The US selective "can make new all-time highs at any time, despite the fact that in part of February and March we have witnessed important corrections, but always without losing the underlying upward trend," says the analyst of ForexNews.online, J.M. Rodriguez.
"Its intraday historical highs are at 13,880, and closing prices at 13,807," he adds. "Very good reaction of the Nasdaq after approaching, last March, the support of 12,000 points, prices very close to the average of 200 sessions," underlines the analyst of ForexNews.online, Cesar Nuez. "At these prices, the technology selective has an important support band and we have seen how it has reacted very well," he explains.
"The overcoming, this past April 1, of the resistance of 13,297 points makes us think of an imminent attack on the all-time highs that it presents at 13,879 points" and, in addition, "the four bullish gaps that have been left since last March 31 is a sign of tremendous strength that could make us think of an extension of the gains to the level of 14,500 points in the coming weeks ", he highlights.
Why does the sun shine again on the technological ones? Due to portfolio rotation, which leaves cyclical values behind to re-invest in growth.
"From mid-February to mid-March, they only talked about the falls in technology as a consequence of the fall in prices in US bonds and therefore the increases in their yields," recalls Rodríguez in his latest analysis. on the index. It seemed that the technology was no longer wanted by anyone and the money was only going to the 'value' sector, but no, "he adds.
"Disgusted and enraged." This is how the technical analyst describes Rich ross, from Evercore ISI , the state of mind of the technological megacaps, which have everything in their favor to break up again: "I only ask you to 'overweight' these titles after several months of consolidation".
"TECHNOLOGY IS NOT OVERPRESSED"
At the end of last March, experts from Bankinter they already warned: "Technology is not overrated". His thesis was based on the fact that the profit multiplier adjusted for expected growth or PEG is more attractive (low) precisely in technology companies (Nasdaq-100, for example) and even more so in semiconductor companies, which are revealed as the cheapest of all.
After being consulted by ForexNews.online, the Department of Analysis and Markets of the entity affirms that "we maintain our strategic exposure to growth companies, especially in technology while increasing the weight of the sectors most linked to the cycle (financial and services)".
In fact, in their Top USA Selection report for the month of April they continue to recommend, as in the previous month, values such as Facebook, Microsoft Y Alphabet, the matrix of Google. Shall we jump in the pool?
Let's talk about Facebook. The popular social network, between scandal and privacy scandal, also goes up in the stock market. And a lot lately. "At the beginning of the week, it has pierced the resistance it had at its highs in September 2020, in the area of $ 304-305, and it is now the first support to take into account," explains Rodríguez. "He just broke a wide lateral movement since last September, and this usually entails important increases in the next weeks and months ", Add.
Let's move on to Microsoft. This one has "a much clearer graph," according to Rodríguez. "It is a very clearly bullish value that does not stop rising, and since 2015 it has a straight upward guideline that now passes around 180, a very important support area, but very far from current levels," he states. In addition, the analyst stresses that "it has just overcome the resistance zone of $ 245-246, which is the first support, and below we have the 240 zone, so the first fall to the 240- zone. 245, it should be an opportunity to jump on the shopping bandwagon. "
Let's not forget Alphabet. The matrix of GoogleLike the other two, it has also surpassed its all-time highs earlier this week. In his case, "after overcoming the resistance of $ 2,145, now a support zone, and Unlike others what I like is that since March of last year it has an impeccable bullish guideline with four points of support that goes through the surroundings of the 1980s, "argues Rodríguez." Any important short-term correction can also be a buying opportunity, "he added.
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