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Apple, Intel, Microsoft, Netflix, Tesla Can Lead the Nasdaq Back Above 5000

NEW YORK (TheStreet) -- The Nasdaq is up 9.4% year to date outperforming the S&P 500 which is up 8.2%. Strength towards the 5000 milestone for the Nasdaq is being led by five stocks, two of which were not publicly traded when the Nasdaq last went above the 5000 level, 5132, in March 2000.

Here's my analysis of the weekly chart for the Nasdaq, which will be followed by profiles and two "crunching the numbers" tables for Apple (AAPL - Get Report) , Intel (INTC - Get Report) , Microsoft (MSFT - Get Report) , Netflix (NFLX - Get Report) and Tesla (TSLA - Get Report) .

Courtesy of MetaStock Xenith

The weekly chart for the Nasdaq (4570) is positive but overbought with its five-week modified moving average at 4449 and its 200-week simple moving average at 3252. The 12x3x3 weekly slow stochastic is 88.05, well above the overbought threshold at 80.00.

At the upper left of the chart is the top of the Nasdaq bubble that peaked at 5132 in March 2000. The post-bubble low was 1136 in October 2002, down 78%. The Nasdaq would have to rise another 12% to reach the March 2000 high.

I show semiannual and annual value levels at 3972 and 3471 with a quarterly pivot at 4569, which was tested at the multi-year high at 2079.53 set on Aug. 27. A semiannual risky level is 4642.

Here are the six Nasdaq stocks that could power this 12% gain.

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AAPL $109.50 -1.16%
INTC $32.52 0.63%
NFLX $114.93 6.32%
MSFT $47.45 1.39%
TSLA $226.72 -2.26%


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

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