If this happens and both stocks pop, be sure to check out $XLC for $GOOGL’s impact, and $XLY for $AMZN’s lift there.
Barron’s headline: Alphabet, Amazon look ready to join Dow Industrials after stock splits
By Andrew Bary
July 22, 2022 3:00 am ET
The recent stock split by Alphabet could pave the way for the search giant and Amazon . com to join the Dow Jones Industrial Average .
Dow (ticker DOW ) and Travelers ( TRV ) are the most likely Dow members to be dropped if Alphabet ( GOOGL ) and Amazon (AMZN) are added, Barron’s projects.
Alphabet and Amazon are the most obvious candidates to join the venerable 30-stock index given their size, profitability, prominence, and economic importance. Other candidates include Berkshire Hathaway ( BRKb ).
Glad I looked:
$AMZN daily chart suggests a breakout is close:
$GOOGL daily chart shows a down channel which it looks ready to test for a breakout as well
$XLC daily chart nearing a breakout from its down channel, and keep in mind the 20 x 50 EMAs had a bearish crossover 10 months ago.
$XLY daily chart has already broken out of its down channel earlier this past week
All four of these are playable now (as in XLY)or will be shortly - or so this is how the charts are shaping out on patterns.
A Dow designation for these two will attract loads of news headlines and pumps.
All four of these on my watchlist failed today.
Let’s see what next week brings.
Jack be patient, jack be nimble.