U.S. equities started Thursday off on a dour note as U.S.-China trade concerns continue to weigh. The impeachment inquiry in Washington is hitting sentiment as well. Energy and technology are leading the decline.
A number of popular and well known entertainment stocks and big tech stocks (because, let’s be honest, there is so much crossover these days) are also hitting the skids hard as the streaming wars go nuclear and the fight for content intensifies. Here are five to sell now:
Disney (DIS)
Disney (NYSE:DIS) shares are threatening to break down below a six-month consolidation range with a move below critical support at $130. If the 200-day average doesn’t hold, a drop all the way back to the March lows is likely, which would be worth a decline of 17% from here.
The company will next report results on November 7 after the close. Analysts are looking for earnings of 99 cents per share on revenues of nearly $19 billion.
Comcast (CMCSA)
Comcast (NASDAQ:CMCSA) shares are dropping below their 50-day moving average, threatening to fall back to multi-month support lows near $41. A return trip would be worth nearly a 10% loss from here.
The company will next report results on October 24 before the bell. Analysts are looking for earnings of 76 cents per share on revenues of $27.2 billion.
Netflix (NFLX)
Netflix (NASDAQ:NFLX) shares are in full meltdown mode, falling further away from its 50-day and 200-day moving averages to close in on lows not seen since last December. This marks nearly a 40% decline from the all time high of more than $420 set in the summer of 2018.
The company will next report results on October 16 after the close. Analysts are looking for earnings of $1.05 per share on revenues of $5.3 billion.
Amazon (AMZN)
Amazon (NASDAQ:AMZN)shares are in trouble as well, and should be considered in this group because of its Amazon Prime Video offerings, falling below their 200-day moving average in what looks like a breakdown out of a multi-month head-and-shoulders consolidation range that traces a decline down to the $1,500 level — which would mark a test of the December 2018 lows.
The company will next report on October 24 after the close. Analysts are looking for earnings of $4.50 per share on revenues of $68.7 billion.
Facebook (FB)
Facebook (NASDAQ:FB) shares are threatening to fall below their August lows on the way to a retest of the 200-day moving average. The company, which wants to play in the streaming sandbox with its Facebook Watch service, is now succumbing to selling pressure pulling it down out of a two-year uptrend pattern. The company will next report results on October 30 after the close. Analysts are looking for earnings of $1.86 per share on revenues of $17.3 billion.
The author holds no positions in the aforementioned securities.
