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As the S&P 500 index continues to hover near the 5,000-point threshold, not far from its all-time highs, the remarkable surge of over 20% since late October levels created a stark divide with many corporations failing to join the market rally.
As of mid-February, nearly half of S&P 500 stocks were trading below the 50-day moving average, which represents a widely recognized technical indicator employed by traders for evaluating the short to medium-term direction of a stock’s price movement.
This observation suggests a substantial portion of the index’s components remains ensnared by bearish sentiment, highlighting a poor market breadth.
In total, there are 232 S&P 500 stocks currently trading below their 50-day moving averages, among which 202 have a market capitalization of less than $100 billion. The remaining 30 stocks belong to the echelons of mega-cap companies, although they constitute just one-third of that exclusive group.
The contrast becomes even more pronounced when considering that only five out of the top 30 companies in the index are trading below their 50-day moving average. This suggests the elite tier of the S&P 500 largely remained well shielded from bearish pressures.
Charter Communications, Inc. (NASDAQ:CHTR), Archer-Daniels-Midland Company (NYSE:ADM), and MarketAxess Holdings Inc. (NASDAQ:MKTX) are the three companies that trade the most “at a discount” relative to this technical indicator with distances of 20%, 19%, and 17%, respectively, off the 50-day average. None of these three corporations have a market capitalization in excess of $50 billion.
A significant surprise comes in fourth place, as Tesla Inc. (NASDAQ:TSLA) is positioned there, about 16% off its 50-day average.
With a market capitalization of almost $590 billion, Tesla is one of the mega-cap outliers in the group of S&P 500 companies that trade below the 50-day average. Within this group, there is Boeing Co (NYSE:BA), now 11% away from its moving average.
| Company | Price vs. 50D Average | Price Chg. % (YTD) |
| Charter Communications, Inc. | -20.07% | -25.59% |
| Archer-Daniels-Midland Company | -19.38% | -26.96% |
| MarketAxess Holdings Inc. | -16.44% | -25.02% |
| Tesla, Inc. | -16.30% | -25.12% |
| Air Products and Chemicals, Inc. (NYSE:APD) | -16.07% | -20.74% |
| Humana Inc. (NYSE:HUM) | -15.81% | -20.97% |
| Newmont Corporation (NYSE:NEM) | -15.17% | -23.05% |
| Healthpeak Properties, Inc. (NYSE:PEAK) | -12.55% | -15.45% |
| The Mosaic Company (NYSE:MOS) | -12.51% | -17.42% |
| EQT Corporation (NYSE:EQT) | -12.47% | -16.66% |
Inverting the focus to stocks that have largely exceeded the 50-day moving average’s support, NVIDIA Corp. (NASDAQ:NVDA), Meta Platforms Inc. (NASDAQ:META), and Ely Lilly and Co (NYSE:LLY) lead the ranking, with 32%, 25%, and 21%, respectively, price premiums compared to the technical indicator.
Uber Technologies Inc. (NASDAQ:UBER) and Ralph Lauren Corp. (NYSE:RL) follow closely after with a 20% premium.
| Company | Price vs. 50D Average | Price Chg. % (YTD) |
| NVIDIA Corporation | 32.40% | 49.35% |
| Meta Platforms, Inc. | 24.70% | 33.16% |
| Eli Lilly and Company | 21.09% | 30.65% |
| Uber Technologies, Inc. | 20.59% | 25.00% |
| Ralph Lauren Corporation | 20.26% | 20.76% |
| Catalent, Inc. (NYSE:CTLT) | 18.79% | 25.93% |
| Monolithic Power Systems, Inc. (NASDAQ:MPWR) | 18.05% | 16.14% |
| Walt Disney Co (NYSE:DIS) | 17.51% | 23.15% |
| Lam Research Corporation (NASDAQ:LRCX) | 16.82% | 18.02% |
| Palo Alto Networks, Inc. (NASDAQ:PANW) | 16.02% | 26.34% |
Posted In: ADM APD BA CHTR CTLT DIS EQT HUM LLY LRCX META MKTX MOS MPWR NEM NVDA PANW PEAK RL TSLA
