Nasdaq-100 Index: Hit the 15874 Cloud Chart resistance target zone as AI market euphoria drives the index higher. Index is now very extended and at a high risk level for a consolidation/correction. Next resistance target 16333 with consolidation risk back down to 15211/14870 and 14482! Party like it is 1999!
Nasdaq Composite: Rally grinds higher with next key resistance targets 14300/14386 & 14500!
Consolidation risk elevated in view of earnings season and index extended from Cloud Chart support zones.
AAPL: up more than 51% in 6 months since the Artificial Intelligence generated buy signal! Winning with AI!
AAPL ranks in the top 10% of the market with a StarMine ranking of 96, but valuations remains a key concern with a Relative Value rank in the bottom 20% of the market.
AAPL stock buy back program supports the stock price, it also improves earnings per since AAPL's growth has been rapidly decelerating over the last 5 years. The good financial engineers!
Meta: "King of the Social Sewer": Two AI generated trades are up 49% and 62% since the Artificial Intelligence Volatility Breakout Trade Signal! Winning with AI!
TSLA: Up more than 63% since the Artificial Intelligence generated buy signal! Hit the resistance zones of 266/272 and closed out the Volatility Breakout AI trade within that resistance zone! Stock now consolidating, and looking for the next AI generated trade! Winning with AI!
Looking at the Starmine models, TSLA remains expensive and ranks poorly i.t.o Value Momentum, Intrinsic Valuation, Relative Valuation and the Combined Alpha Model. Both EV/EBITDA and P/E Ranks at the bottom end of the range at 9 and 10 global ranking.
Earnings quality remains high with a rank of 97, but the valuation remains a risk!
