Apple, Tesla and Amazon stocks in danger of 1st closes below 50-DMAs in nearly 2 months

Shares of mega-capitalization companies Apple Inc.
AAPL,
-0.53%,
Amazon.com Inc.
AMZN,
-1.02%
and Tesla Inc.
AMZN,
-1.02%
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,
-1.82%
and Alphabet Inc. shares
GOOGL,
-0.01%
have closed below their 50-DMAs since Aug. 26, while the S&P 500
SPX,
-0.60%
has closed below its 50-DMA since Aug. 30.