NYSE Mega Caps Now Trading Below Their 200-Day Moving Averages

ChevronCVX, Oracle, Procter and Gamble, Exxon Mobil.

While the select few tech and social media names of the Nasdaq 100 are just now dropping from higher 2023 highs, these New York Stock Exchange mega caps remain below their 200-day moving averages.

It’s a sign of how different the market is once you scratch beneath the surface of the headlines.

A stock trading below the average price of its past 200 sessions lacks the excitement and wonder that it may have had months and months ago. These are among the most well-known and well-respected American brand names, each one of which offers investors respectable dividends.

Mega Caps: A Price Chart Analysis.

NYA

Chevron has a market capitalization of $283 billion, trades with a price-earnings ratio of 11 and pays a dividend of 4.00%. The daily price chart looks like this:

That’s 2 gaps down after the September $170 peak, both in October. The first gap, form about $166 to $162 remains unfilled. The second gap, from $152 to $150, was filled during December. Even though Chevron has come back from the November lows, the stock remains below its 200-day moving average — this, at a time when major Nasdaq big caps remain well above theirs.

OracleORCLis a tech stock focused on cloud infrastructure and applications. Market cap is $282 billion. The price-earnings ratio is 28. Investors receive a 1.40% dividend. Here’s the daily price chart:

Twin peaks phenomenon: the $126 level is achieved and then fades first in June and then again in early September, where the big gap down remains unfilled. Another gap down in December, from $114 to $104, also remains unfilled. Oracle is unable to find enough buyers to take it back above the 200-day moving average, an unusual feature these days for a big cap tech name.

Procter and Gamble is the huge household and personal products (like toothpaste) company with a market capitalization of $347 billion. The price-earnings ratio is 23.97 and the dividend comes to 2.60%. The daily price chart is here.

The stock peaked in August up there at $157, slid to as low as $141 by October and now trades for $147. Price makes it back to the 50-day and the 200-day moving averages and is finds resistance there for the last 4 trading sessions. The ups and downs on this chart from May to the present is rather unusual for such a major New York Stock Exchange-listed name.

Exxon Mobil has a market cap of $411 billion, trades with a price-earnings ratio of 10.20 and pays a dividend of 3.60%. Like Chevron, it tends to follow the ups and downs of the price of oil. The daily price chart is here:

The July low is $99 and the rally that follows takes it up to $119 in late September, the high for 2023. The sell-off from there finds a low of $97 in mid-December and the weak rally up to $162 keeps it underneath the 200-day moving average.

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