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Author Message   Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3965 Registered: 05-2011 Posted From: 24.164.46.35 Rating: N/A Votes: 0 Posted on Monday, January 24, 2022 - 3:19 pm:    Sector Briefing: Technology (149.16 -5.17) All eleven sectors continue trading in the red with top-weighted technology (-3.5%) sitting at the bottom of today's leaderboard. Key factors driving today's performance include: Continuation of the market's recent slide weighing on investor sentiment. The technology sector has given up 14.4% so far in January versus a 10.3% month-to-date drop in the S&P 500 (-2.8%) and a 14.9% drop in the Nasdaq (-3.3%). Weak showing among growth stocks despite a downtick in Treasury yields. Top sector components Microsoft (MSFT 284.02, -12.01, -4.1%), NVIDIA (NVDA 214.94, -18.80, -8.0%), and Mastercard (MA 336.69, -18.39, -5.2%) trade among the laggards while Apple (AAPL 156.97, -5.44, -3.4%) trades in-line with the sector, though it is also sharply lower for the day. Notable movers: Xilinx (XLNX 171.31, -16.48, -8.8%): weakest performer in the sector, falling to its lowest level since mid-October with its 200-day moving average (160.79) looming below. Enphase Energy (ENPH 115.25, -10.77, -8.6%): falling to its lowest level since mid-May. Truist issued cautious commentary about solar stocks. NVIDIA (NVDA 214.94, -18.80, -8.0%): falling past its 200-day moving average (220.70) to its lowest level since mid-October. AMD (AMD 110.23, -8.58, -7.2%): falling past its 200-day moving average (108.65) to its lowest level since mid-October. PayPal (PYPL 153.68, -9.86, -6.0%): falling to its lowest level since June 2020. Western Digital (WDC 54.61, -3.20, -5.5%): falling to its lowest level since early November. Mastercard (MA 336.69, -18.39, -5.2%): falling past its 50-day moving average (350.63) to its lowest level since early December. Microsoft (MSFT 284.02, -12.01, -4.1%): falling past its 200-day moving average (292.70) to its lowest level since late July. Micron (MU 78.76, -3.17, -3.9%): falling past its 200-day moving average (79.69) to a two-month low. Intel (INTC 50.09, -1.95, -3.8%): falling past its 50-day moving average (51.45) to a one-month low. Apple (AAPL 156.97, -5.44, -3.4%): falling to its lowest level since mid-November with its 200-day moving average (147.50) looming below. Cisco (CSCO 55.32, -1.36, -2.4%): falling past its 200-day moving average (55.77) to its lowest level in nearly two months. Broadcom (AVGO 521.09, -12.14, -2.3%): falling to its 200-day moving average (512.09). Skyworks (SWKS 136.64, -3.26, -2.3%): falling to its lowest level since late November 2020. Adobe (ADBE 493.00, -6.90, -1.4%): falling to its lowest level since May. Vontier (VNT 28.29, +0.02, +0.1%): best performer in the sector, touched its lowest level since November 2020 before turning positive.