Shares of mega-capitalization companies Apple Inc.
AAPL,
Amazon.com Inc.
AMZN,
and Tesla Inc.
AMZN,
are all falling toward losing streaks of at least five sessions, enough to push them below their respective 50-day moving averages (50-DMA) for the first time in nearly two months. Many chart watchers on Wall Street view the 50-DMA as a short-term trend tracker. Apple’s stock is down 0.7% in midday trading, and has shed 8.2% amid a five-day losing streak. The technology behemoth’s stock is in danger of closing below the 50-DMA, currently at $156.46, for the first time since July 6. Ecommerce giant Amazon’s stock, which was losing 2.3% and has slid 9.7% the past five days, is headed for the first close below its 50-DMA ($125.84) since July 14. And Tesla shares slumped 3.1% on Wednesday, and has sunk 10.1% amid a six-day losing streak. The electric vehicle giant’s stock is on track to close below the 50-DMA $269.80 for the first time since July 15. Among other mega caps, shares of both Microsoft Corp.’s stock
MSFT,
and Alphabet Inc. shares
GOOGL,
have closed below their 50-DMAs since Aug. 26, while the S&P 500
SPX,
has closed below its 50-DMA since Aug. 30.
