Dow Jones Futures Signal Modest Market Rally; Roku, AMD, Tesla Lead 10 Bullish Reversals
Dow Jones futures rose Friday morning, along with S&P 500 futures and Nasdaq futures. The 10-year Treasury yield rose modestly, while China cut reserve requirements on big banks.
The stock market rally retreated Thursday, but the Nasdaq and S&P 500 found support around short-term moving averages.
Many stocks reversed off key levels. Roku (ROKU), Advanced Micro Devices (AMD), Crocs (CROX), InMode (INMD), Upwork (UPWK), Denbury Resources (DEN) and Figs (FIGS) tested their 21-day exponential moving averages, while Tempur-Sealy (TPX), Ford Motor (F) and Tesla stock found support at their 50-day lines.
Roku stock, Crocs, InMode, Figs and Ford arguably offered buying opportunities from their reversals. AMD stock, Upwork, Denbury, Tempur-Sealy and Tesla (TSLA) found key support, but might have buying opportunities a little later.
Tesla, Ford, InMode, Tempur-Sealy and CROX stock…