3 Big Stock Charts for Monday: Amazon, Activision Blizzard and Jack Henry & Associates

The new week kicks off with a trio of names worth a closer look

Investors weren’t so sure they could trust the market on Thursday, following Wednesday’s breakdown in response to recession worries. They forgot about those doubts by Friday though, with the S&P 500 rallying 1.44% to finish the week on a high note.

3 Big Stock Charts for Monday: Amazon, Activision Blizzard and Jack Henry & Associates
Source: Shutterstock

General Electric (NYSE:GE) led the charge, rallying nearly 10% after plunging on Thursday in response to accusations that its books understated the full extent of its insurance liabilities. Advanced Micro Devices (NASDAQ:AMD) had a big day as well though, gaining 5% buoyed by rebounding rival Nvidia (NASDAQ:NVDA).

Not every name was a winner on Friday though. Palo Alto Networks (NYSE:PANW), for instance, fell more than 7% on more management changes that may or may not help, but will certainly prove disruptive.

As the new trading week gets going though, it’s the stock charts of Activision Blizzard (NASDAQ:ATVI), Jack Henry & Associates (NASDAQ:JKHY) and Amazon (NASDAQ:AMZN) that merit a closer look. Here’s why.

Amazon (AMZN)

Amazon (AMZN) stock charts
Source: ThinkorSwim

In early July, Amazon looked unstoppable. It had just rekindled a recovery effort that began in January, pushing up and off a support liner that started to take shape in February. That move jolted AMZN back above a key moving average line as well.

As was the case in May, the advance fell apart once it got overextended, falling back just as much. This time, however, the selloff stopped exactly where it needed to. Better still, where the selling stopped is precisely where a renewed rally effort would materialize.


Click to Enlarge
Source: ThinkorSwim

Jack Henry & Associates (JKHY)

Jack Henry & Associates (JKHY) stock charts
Source: ThinkorSwim

Jack Henry & Associates was one of the few names that was unable to make forward progress on Friday, pulling back just a bit after soaring earlier in the week.

Still, there’s much to like about the circumstances JKHY stock has made for itself over the course of the past several weeks. And, just within the past few days the scales have started to lean in a bullish direction again. The trick will be clearing one more hurdle that was verified with Friday’s high.


Click to Enlarge
Source: ThinkorSwim

Activision Blizzard (ATVI)

Activision Blizzard (ATVI) stock charts
Source: ThinkorSwim

Finally, the last time we took a look at Activision Blizzard back on July 29, it was working on breaking above its 200-day moving average line. It was a good effort too. A long streak of higher lows and a narrow trading range were coiling the spring tight, setting up a prolonged move.

That’s what ended up happening later in the month. But, it didn’t last. The effort was up-ended a couple of days later. Nevertheless, the bulls are taking another shot, and this one looks even better positioned than the last.


Click to Enlarge
Source: ThinkorSwim

As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley.


Article printed from InvestorPlace Media, https://investorplace.com/2019/08/3-big-stock-charts-for-monday-amzn-atvi-jkhy/.

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