Continuing our concentrated look at energy names today, we pick up the thread with Royal Dutch Shell (RDS.A).
Like other names in the energy patch, Royal Dutch Shell turned down in the middle of 2014, breaking below the 200-day simple moving average.
Royal Dutch is one of the weaker names we have looked at -- not because of a big point loss or percentage decline, but because the bounces on the way down never got close to the declining 200-day average. And the On-Balance-Volume (OBV) line indicates serious distribution by its downtrend.
In this chart, above, we can see the rapid rebound in prices starting in late September that was able to power Royal Dutch back above its 50-day moving average. Unfortunately, the movement in the OBV line has been anemic and suggests that Royal Dutch may have a subdued response to higher oil prices in the weeks ahead.
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Cisco blamed its light guidance on macro headwinds. But as its own numbers show, software and security spending is holding up better than hardware spending in this environment.
When businesses such as Google Maps, Waymo and the Google Cloud Platform get valued on their own, the valuation given to Google's main profit engines looks fairly cheap.
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