Meta Platforms, Advanced Micro Devices, Salesforce.com, CrowdStrike Holdings, Eli Lilly, CyberArk Software, Uber Technologies, Cloudflare, Intuitive Surgical and Monday.com are all stocks staging bullish pullbacks to key support.
Leading stocks often don't make it easy to find a way in, especially after an initial breakout. But a number of leaders have pulled back to 50-day or 10-week moving averages, often with rising 50-day and 10-week lines doing the bulk of the work.
The first or second test of the 10-week line above a breakout can offer a new or add-on buying opportunities. Often these pullbacks take place in emerging or newly forged bases. Investors can often view a bounce from the 10-week line in these instances as an early entry, especially if coinciding with clearing short-term levels or a trendline.
While a strong move off the 10-week line is a bullish sign, a decisive break is often a sell signal.
Meta Platforms and Uber stock are on the IBD Leaderboard, with CyberArk stock on the Leaderboard watchlist. META stock is on SwingTrader. CrowdStrike, Cloudflare, Monday.com, Meta and Salesforce stock are on the IBD 50. Cloudflare was Monday's IBD Stock Of The Day.
Meta Stock
Meta stock has been consolidating since hitting a record 523.57 on March 8, and arguably has been roughly sideways since early February. The Magnificent Seven giant has been finding support at the 21-day line for the past few weeks. On Monday Meta bounced slightly from the 10-week line, which finally caught up for the first time in months.
Shares rose 1.2% to 491.35 on Monday, coming slightly off highs and pausing around the 21-day line. A move above Monday's high of 497.23 would offer a buying opportunity.
AMD Stock
AMD stock advanced 1.6% on Monday to 183.34, bouncing from the 50-day line and closing just below the 21-day and 10-week lines. Shares also are near the top of a short consolidation that triggered a strong breakout in late February that roundtripped a few weeks later. A move above Monday's high of 187.24 could offer an entry.
Salesforce Stock
CRM stock inched up 0.4% on Monday to 302.26, right around the 21-day line and just above the 10-week. Salesforce is on track to have a flat base with a 318.71 buy point after this week. Investors could use a downward-sloping trendline, currently around 309, or the March 21 high of 311.80 as early entries.
CrowdStrike Stock
CrowdStrike stock edged down 0.3% on Monday to 319.59, finding support around the 50-day and 10-week lines. CRWD stock has had a few wild intraday swings, but investors could use 338.45 as a draw-the-line buy point.
CyberArk Stock
CyberArk stock dipped 0.5% on Monday to 264.25, but closed above the 21-day and 10-week lines. CYBR stock has a 283 consolidation buy point, according to MarketSurge. Investors could use 277.97 as an early entry.
Uber Stock
Uber stock declined 0.8% to 76.40 on Monday, modestly above the 50-day line and just below the 10-week. Investors can treat the recent consolidation, following a big move, as a de facto flat base with an 82.14 buy point. Investors could use a move above the 21-day line or the 80 level as early entries.
Monday.com Stock
Monday.com stock retreated 2.2% to 221 on Monday, finding support at the 50-day line but closing below the 10-week. MNDY stock has a 239.22 flat-base buy point. Investors could use Monday's high of 225.54 as an early entry from the 50-day/10-week as well as roughly coinciding with a short-term trendline.
Cloudflare Stock
Cloudflare stock dipped 1.2% to 95.66 on Monday, slightly below the 21-day and 10-week lines. The recent consolidation followed a Feb. 9 earnings gap-up out of a short base. A move above the March 21 high of 100.90 would offer an early entry within a new base.
Eli Lilly Stock
Eli Lilly stock fell 2.2% to 760.55 on Monday, below the 21-day line but closing just above the 10-week line. As with Uber, investors can treat Lilly's consolidation as a de facto flat base with an 800.78 buy point. It's on track to be an official flat base after this week. Investors can use Friday's high of 793.67 as an early entry.
Intuitive Surgical Stock
Intuitive Surgical stock dropped 1.1% to 354.87 on Monday, finding support around the 21-day and 10-week lines. ISRG stock has been consolidating at least since early March, if not early February, following a strong run to start 2024. Shares have a four-weeks-tight pattern with a 403 buy point. Investors could treat that as de facto flat base.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
