Meta, Alphabet, Disney: 3 Top Holdings Of This ETF Hitting New Highs

News Room
3 Min Read

The exchange traded fund known as the Communications Select Sector SPDR just hit new highs. Its top holdings include Meta Platforms
FB
(formerly Facebook), Alphabet (former Google
GOOG
) and Disney (it’s still Disney). Investors looking for professional management and added diversification might look at the ETF.

The Communications Select Sector SPDR holds 19 other stocks besides the 3 already mentioned and, according to its website, “seeks to provide precise exposure to companies from telecommunication services, media, entertainment and interactive media & services.”

The daily price chart for the ETF looks like this:

The Communications Select Sector SPDR gapped up this week and managed to stay up there at the new 52-week highs (red circled). You can see how the price broke out above the previous resistance level from late July at $69. The move from the low of $63 in October to Friday’s $70 is a more-than-decent sort-term rally.

Communications Select Sector SPDR Key Components.

The Meta Platforms daily price chart is here:

The stock this week broke above the early October high of $330, hit just below $340 and closed at $335. Meta trades above both up trending 50-day and 200-day moving averages. The late April gap up (red circled) represents some serious post-earnings report frenzied buying.

Here is Alphabet’s daily price chart:

Underperforming the ETF and the 2 stocks mentioned above, this one failed to reach a new high. On the hand, more bullishly, it’s closed for 4 straight sessions above its 50-day moving average. Also, the 200-day moving average trends steadily upward.

Disney is another underperformer for the ETF with this daily price chart:

The stock closed above its 200-day moving average for the first time since May. The 50-day moving average is now trending upward. The huge gap down in May is a target that may be tough to fill — at least, anytime soon.

AT&T is also a holding of the Communications Select Sector SPDR. The daily price chart is here:

It’s another of the underperformers only late this week showing enough buying strength to close above the down trending 200-day moving average. It’s a positive that the 50-day moving average has turned upward. The big April gap down may be a difficult target to fill.

Read the full article here

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *