Highly liquid company stocks are driving the indices up, with MasterCard ($MA, 392.02) rising 1.3% on Thursday
Stocks are experiencing a positive trend, with the S&P 500 and Nasdaq Composite surging 0.94% and 1.51% respectively, reaching their highest closing levels since August. The Dow Jones Industrial Average also saw a rise of over 115 points, or 0.34%.
These gains on Thursday have further increased the weekly performance of the major averages, with the Nasdaq up 3.3% and the S&P on track to end the week 1.8% higher. Both indices are set to achieve their best weekly performance since March 31. The Dow has gained 0.7%.
Currently, the stocks of high-liquidity giants are mainly driving the market, while second-tier stocks, which are also heavily present in our robot's assets, are lagging behind. However, it is likely that the upward trend will continue, and money will start flowing into lower-liquidity stocks, which will increase volatility and profitability.
For instance, it is worth highlighting the performance of MasterCard stocks, which rose 1.3% yesterday, and the upward trend is ongoing.
Based on a +3.04% 3-day advance, it is estimated that the price will continue to grow. Historical data shows that in 231 out of 344 cases where MA advanced for three consecutive days, the price further increased within the following month. The chances of a continued upward trend are at 67%.
Additionally, the Aroon Indicator has entered an uptrend today. In 230 out of 360 cases where MA Aroon's Indicator entered an uptrend, the price continued to rise within the following month. The odds of a continued uptrend are at 64%.
MA's Stochastic Oscillator stays in oversold zone for 1 day
Be on the lookout for a price bounce soon.
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