Internet Stock Trading Range Screen – Bespoke Investment Group
A few days ago we posted an updated look at the Nasdaq Internet group, which tanked in March and April but has found its footing over the last few months. Below we take a look at the 30 largest components of the Internet group by running them through our trading range screen. (Give us a call at 914-315-1248 to learn about running your own custom trading range screen.) For each stock, the dot represents where the stock is currently trading, while the tail end represents where it was trading one week ago. Moves into the red zone are considered overbought, while moves into the green zone are oversold. The black vertical “N” line represents each stock’s 50-day moving average.
As shown, the majority of Internet stocks are trading above their 50-day moving averages, and 12 are currently in overbought territory. eBay (EBAY) and Yahoo! (YHOO) are the most overbought of the bunch, and both have moved higher over the last week. Most stocks in the group have actually moved slightly lower within their trading ranges over the last week, as evidenced by the red shading of the dots. Two of the 30 stocks on the list are currently in oversold territory, and they’re both Chinese Internet names — Qihoo 360 (QIHU) and SINA Corp. (SINA).
For each stock, we also highlight its year-to-date performance, as well as its performance since the Internet group made its most recent low on May 8th. For the year, Zillow (Z) and YY Inc. (YY) are up the most with gains of 75%. Other notable winners in the group include Facebook (FB) with a gain of 36.91%, Ctrip (CTRP) at +30.18%, and Netflix (NFLX) at +28.96%. The worst performer in the group year-to-date is SINA (SINA) with a decline of 45.59%, but Groupon (GRPN) is right on its tail with a decline of 44.84%. Other key Internet stocks that are down year-to-date include Amazon.com (AMZN), Yahoo! (YHOO), AOL and HomeAway (AWAY). These decliners just haven’t been able to recover from the steep pullback the group experienced in early Spring.
Excerpt from:
Internet Stock Trading Range Screen – Bespoke Investment Group
