Zacks Investment Ideas feature highlights: Nasdaq 100 Index ETF, Tesla, Coinbase, MicroStrategy and Root

For Immediate ReleaseChicago, IL – November 18, 2024 – Today, Zacks Investment Ideas feature highlights Nasdaq 100 Index ETF QQQ, Tesla TSLA, Coinbase COIN, MicroStrategy MSTR and Root ROOT.Hawkish Powell Shakes Stocks: What's Next?Powell’s Hawkish Comments Shake EquitiesTen days after the election, the sugar high and animal spirits appear to be finally wearing off. Tech stocks and the Nasdaq 100 Index ETF  finally encountered some heavy selling pressure after comments from Federal Reserve Chairman Jerome Powell earlier in the week. Powell said, “The economy is not sending signals that the U.S. central bank needs to be in a hurry to lower interest rates.”Investors must understand that markets are driven by liquidity, especially from the Federal Reserve. Nonetheless, considering the roaring rally since the presidential election, Powell taking the foot off the dovish gas pedal is not surprising. With stocks up 5% last week, some profit-taking is expected. Below are 5 more reasons stocks will likely to find support:1. Technical Confluence ZoneThe price action illustrates that QQQ is retreating to a high-probability buy zone, which includes a retest of the breakout and $500 round number, a daily price gap fill, and the rising 50-day moving average.2. OPEXFriday is options expiration. Often, stocks trade funky on options expiration days as traders reposition.3. Healthy Breadth Under the HoodThe majors sometimes tell a partial story regarding market health. In order to get the full story, market participants must check breadth (participation). Though the major indices faded hard, only ~60% of stocks were lower for the session. Though markets were down, leading stocks like Tesla, Coinbase, MicroStrategy and Root were up.4. Dramatic Sentiment ShiftThis week, the “CNN Fear & Greed” indicator showed that sentiment plunged from “Greed” to “Neutral” levels. Savvy investors use sentiment as a contrarian indicator.5. SeasonalityHistorical seasonality suggests that markets tend to retreat into Thanksgiving week before rallying into year-end.Bottom LineFriday’s market swoon may seem intimidating on the surface. Nevertheless, several pieces of evidence, including the QQQ chart, sentiment, and seasonality suggest that the downside will be limited.Why Haven't You Looked at Zacks' Top Stocks?Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.Today you can access their live picks without cost or obligation.See Stocks Free >>Media ContactZacks Investment Research800-767-3771 ext. 9339support@zacks.comhttps://www.zacks.comPast performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA): Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports MicroStrategy Incorporated (MSTR): Free Stock Analysis Report Root, Inc. (ROOT): Free Stock Analysis Report Coinbase Global, Inc. (COIN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks