Best Performing US Stocks Last Week: Technical Analysis

Introduction:

The stock market is a dynamic landscape, where various factors influence the performance of companies. Every week, we see a new batch of stocks rising to the top. Last week was no exception. This article delves into the best performing US stocks from the past week and provides a technical analysis to understand their trajectory.

Stock 1: Amazon (AMZN)

One of the best-performing stocks last week was Amazon. The e-commerce giant saw a surge in its shares, reaching an all-time high. Let's analyze the technical indicators to understand why this happened.

• Volume: The increasing volume suggests that a large number of traders and investors are actively participating in the stock.
• Moving Averages: The 50-day and 200-day moving averages are both trending upwards, indicating a strong bullish trend.
• Relative Strength Index (RSI): The RSI is above 70, indicating that the stock is in an overbought condition, but it might continue to rise before correcting.

Stock 2: Tesla (TSLA)

Tesla, the electric vehicle (EV) manufacturer, also witnessed a significant rise in its shares last week. Let's break down the technical aspects behind this surge.

• Volume: Similar to Amazon, Tesla's volume has been consistently high, indicating active trading.
• Moving Averages: The 50-day and 200-day moving averages are both trending upwards, signifying a strong bullish trend.
• MACD: The MACD is currently showing a bullish crossover, indicating a potential upside move.

Stock 3: NVIDIA (NVDA)

NVIDIA, the leading graphics processing unit (GPU) manufacturer, experienced a surge in its shares last week. Here's a breakdown of its technical analysis.

• Volume: The volume has been high, indicating active participation.
• Moving Averages: The 50-day and 200-day moving averages are trending upwards, indicating a strong bullish trend.
• Bollinger Bands: The stock is currently trading above the upper Bollinger Band, suggesting an overbought condition but with potential for continued upward movement.

Conclusion:

The best-performing US stocks last week, including Amazon, Tesla, and NVIDIA, saw a surge in their shares due to strong technical indicators. However, it is important to note that investing in stocks involves risk, and it is advisable to conduct thorough research and consult with a financial advisor before making any investment decisions.