Fed tightening was underappreciated by investors towards the end of 2021, but it seems like we are finally witnessing a market reckoning. Technological stocks are down the most (US100 is down more than 2% just today) and here are the 5 biggest 2022 losers so far:
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Create account Try a demo Download mobile app Download mobile appThe best and worst performing companies in the NASDAQ index since the start of 2022. Source: Bloomberg
1 - MercadoLibre (MELI.US)
One of the largest e-commerce companies in South America. The company creates a trading platform that enables auctions and fixed-price sales. The company has over 550 million customers, mainly in Brazil. eBay holds an 18% stake in the company. The company's earnings continue their upward trend.
MercadoLibre's shares are currently testing the local low of December 6, 2021. If the buying side fails to stop the current declines, an escalation of the declines and a retest of the psychological barrier of $1,000 per share is possible. The $1,200 per share zone remains a local resistance level (23.6% Fibo retracement). Source: xStation 5
2 - Atlassian Corp (TEAM.US)
A company engaged in the development and improvement of business software, which currently has over 55,000 institutional clients. The company supports project management and internal communication solutions for companies.
3 - Datadog Inc. (DDoG.US)
Provider of software and cloud solutions that monitor real-time customer behavior. The company's platform for server and database analytics is based on a SaaS solution.
4 - Zscaler Inc (ZS.US)
The company operates in the software security industry and develops cloud solutions for network and mobility protection.
Zscaler (ZS.US) has fallen below the EMA 200 (gold line) and is currently testing the October 4, 2021 low. The closest resistances for the company's shares are levels near the 23.6% Fibo retracement. If the buying side will not be able to negate the current declines, it is possible to accelerate the declines to the area of $228 per share. Source: xStation 5
5 - Align Technology (ALGN.US)
This is a medical company that is focused on dentistry. The company operates globally, but almost 45% of its revenue is generated by the US market. The company manufactures many advanced orthodontic solutions.
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