Netflix Microsoft Lead 5 Tech Giants Holding Key Support That Nasdaq Can't

With the Nasdaq composite breaching the 50-day moving average amid geopolitical uncertainty, here's a look at five top tech stocks within the big-cap Nasdaq 100 that are finding support at that key level.

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Netflix

Netflix (NFLX) has been under pressure after Disney announced plans to cut ties with the streaming service in 2019 in favor of its own over-the-top platform. Shares on Thursday threatened a round-trip from a flat-base entry at 166.97, which coincides with the 50-day line, but the stock rebounded Friday, climbing 1.3% to 171.40.

Microsoft

Microsoft (MSFT) also shot higher Friday, rising 1.5% to 72.53, after testing support at the 50-day line Thursday. Shares are now less than 1% below a buy point of 72.99 that was initially cleared several days before the company's July 20 earnings report.

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Celgene

Celgene (CELG) is back within the 5% buy range from a 127.74 entry initially cleared on June 21. The stock dropped almost 4% Thursday, hitting the 50-day line, but edged 0.2% higher Friday to 130.61.

Activision And Adobe

Activision (ATVI) and Adobe (ADBE) are both well extended from their last base breakouts. But Activision is just below an add-on, three-weeks-tight entry at 63.29 as it finds support at the 50-day line. Adobe is pivoting higher from its 50-day line as well. Looking at a weekly chart, it's Adobe's fourth test of the line since its January breakout.

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