Charts Suggest It's Not Time to Buy the Dip in Mega-Cap Tech Stocks Just Yet, Cramer Says

  • 📰 nbcsandiego
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Investors who want to capitalize on the struggles of large-cap technology stocks should remain patient, CNBC's Jim Cramer said Monday, citing technical analysis from Carolyn Boroden.

Ex-Obama Advisor Says Global Events Are Overshadowing Climate Change Efforts: ‘We Are Not Acting Swiftly Enough'

In general, Cramer said Boroden believes Alphabet — along with other tech giants with downtrodden stocks this year — will not be able to return overnight to bullish trading patterns that defined 2020 and much of last year, too. "Of course, she thinks it's possible we could get some oversold rallies here," Cramer said. However, he added,"the stock has a lot of resistance on the way up, though. You've got a bunch of ceilings running from $88 to $93. ... Given the lack of anything bullish in this chart, Boroden wouldn't bet on Alphabet breaking through this ceiling."Jim Cramer's Guide to Investingfor the CNBC Investing Club to follow Jim Cramer's every move in the market.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 524. in BUSİNESS

Business Business Latest News, Business Business Headlines