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Momentum Shifts Downward for Older Technology Stocks

NEW YORK (TheStreet) -- All nine of the tech stocks that I profiled in June had year-to-date gains of 10% to 40% at that time, but since then, momentum has shifted to declining for six of the stocks, as shown in the first "crunching the numbers" table.

The last company of the nine to report quarterly results is Hewlett-Packard (HPQ - Get Report) , which will report after the closing bell on Wednesday. Analysts expect the company to post earnings of 89 cents per share as its turnaround continues.

Since June 13, Intel (INTC - Get Report) , Microsoft (MSFT) and Apple (AAPL) are the leaders up 15%, 9.4% and 8.7%, respectively. Strength in these stocks has helped the Nasdaq Composite index set a new multiyear intraday high at 4509.16 on Monday.

For more on Microsoft, click the video below:


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Here are the latest profiles for the nine old tech stocks. Two "crunching the numbers" tables follow.

Apple ($99.16) traded at its 2014 intraday high at $99.44 on July 29, and dipped to its 50-day simple moving average at $93.90 on Aug. 8 with the average now at $94.61. On Monday, Apple was knocking on the door of a new high, but stalled at $99.37.

The weekly chart is positive but overbought with its five-week modified moving average at $95.43. Monthly and annual value levels are $89.84 and 81.33, respectively, with a semiannual pivot at $95.32 and weekly risky level at $100.24.

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INTC $30.36 -0.82%
HPQ $11.71 -3.38%
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

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