Credit: Shutterstock photoThe major market averages were once again modestly higher Friday as they swung between mild gains and losses. Top-ranked stock Arista Networks ( ANET ) sold off in the stock market today .
[ibd-display-video id=3151711 width=50 float=left autostart=true] All three major indexes - the tech-heavy Nasdaq, S&P 500 and Dow Jones industrials - were down about 0.3%-0.4%, looking to end five-day win streaks. On the week, the Nasdaq is on pace for an more than 5% advance.
Within the Dow industrials , Coca Cola ( KO ) trimmed a gain to 0.7% Friday after its top- and bottom-line results exceeded analyst targets. Still, the beverage and snack giant is stuck under its 200-day moving average line - where it appears to be finding resistance - after giving up the level on Feb. 5.
Elsewhere, Apple ( AAPL ) rose 0.9%, as it quietly traded after five days of solid gains. Shares recaptured their 50-day line Thursday amid the stock's over-10% gain this week.
Among companies reporting earnings , IBD Sector LeaderLogMeIn ( LOGM ) traded more than 7% lower amid weaker-than-expected current quarter and full-year revenue guidance. The stock is now about 3% below its 128.45 cup-with-handle entry after Wednesday's solid breakout.
Deere ( DE ) rose 0.9% despite missing top-line estimates early Friday. Shares have rebounded back above their 50-day line and are up about 35% from a 124.94 cup-with-handle buy point. Bullishly, the stock's relative strength line continues to make new highs, indicating substantial market outperformance.
Graphics-chip maker Nvidia (NVDA) continued its winning ways with a 0.8% advance, but is giving up some gains after hitting a new high. The stock reached a new high amid immense volatility after the stock's breakout above a 218.77 cup-shaped base buy point on Jan. 8. Shares are about 13% from that buy point after finding support at the 50-day line.
Inside the IBD 50 , Arista Networks ( ANET ) plunged 18% after its sales and gross margin outlook in the current quarter were weaker than expected. The No. 1-ranked IBD 50 stock's fall puts it right back at its 50-day line. Heading into the earnings release, the stock had reached the 20%-25% profit-taking level from a 245.75 cup-shaped base entry.
Elsewhere, IPG Photonics (IPGP) stumbled 10%, sending it back near its 50-day line after five straight up days. The stock's breakout above a 248.33 cup-base buy point failed amid the market's recent turmoil.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
