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Nasdaq duo1/11/2024 ![]() This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. and Morningstar, Inc.Ĭopyright 2023 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606Īt the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. Forbes Media, LLC Investor's Business Daily, Inc. ![]() Each of the company logos represented herein are trademarks of Microsoft Corporation Dow Jones & Company Nasdaq, Inc. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. A close above the 200-day moving average will likely cause more shorts to panic and cover – sending shares much higher. As of Wednesday, shares are back above the critical 200-day moving average for the first time since late 2021. Meanwhile, the stock is well off its high (above $250, now at ~$10).Īt 48% short interest, Novavax is among the most heavily shorted stocks in the market. Earnings are expected to reach record levels by the end of 2023. If COVID-19 numbers continue to pick up and the NVAX vaccine goes mainstream, the reversion to the mean potential is signficant. However, recent reports show that COVID-19 numbers are on the rise again. Unfortunately for NVAX, it took until July 13 th, 2022 to receive emergency use authorization from the US FDA. The company came to prominence when it was in the race with companies such as Johnson and Johnson (( JNJ Quick Quote JNJ - Free Report) ), Pfizer (( PFE Quick Quote PFE - Free Report) ), and Moderna (( MRNA Quick Quote MRNA - Free Report) ) to get a COVID-19 vaccine approved. Novavax is a biotech company that develops innovative vaccines to prevent serious infectious diseases. Novavax (( NVAX Quick Quote NVAX - Free Report) ) AMD has a P/E ratio of just 43x, much more reasonable than NVDA’s 92.47x.ĪMD shares have exhibited relative strength recently and are looking to emerge from a bullish wedge pattern. Though it often makes sense to be invested in the industry leader, AMD is becoming more attractive from a valuation perspective and could play catch up. Zacks Consensus Estimates suggest that by 2024, AMD will report record annual results, and in turn, AMD stock should follow with all-time highs. AMD has emerged as a strong challenger to Nvidia’s graphic processing unit or GPU market dominance. However, the race for AI supremacy is sending demand to unfathomable levels, and NVDA will not be able to keep up fully for the foreseeable future. For now, the Nasdaq 100 ETF (( QQQ Quick Quote QQQ - Free Report) ) is simply retesting its 50-day moving average and breakout zone from above.īelow are two stocks with comeback potential, strong fundamental stories, and explosive technical setups:Īdvanced Micro Devices (( AMD Quick Quote AMD - Free Report) )ĪMD is the second strongest semiconductor maker behind Nvidia (NVDA), the market leader. Even with the somewhat weak start, investors must not get overly bearish without proof. However, in an earlier piece, I provided readers with three reasons why September may actually offer a bullish surprise for investors. ![]() September is starting in classic, historically weak form.
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