Stocktwits Chart Art: July 31, 2024

STOCKTWITS CHART ART: JULY 31, 2024
The Stocktwits Summary 📝

Strong results from AMD and a bullish analyst note on Nvidia helped buoy big tech ahead of the Fed’s announcement where it set the stage for a 25 bp rate cut in September. Additionally, the cooling labor market helped provide another tailwind as investors finally bought the dip in big tech’s pullback. 💸

Here’s how the major indexes ended the day:

*The ST Sentiment Score & Message Volume scales range from 0 to 100 (extremely bearish to extremely bullish). More info here.

And here were Stocktwits’ top Trending symbols:

CHART OF THE DAY
Earnings Push Parsons Corp To New Highs 🛡️

Earnings season is a catalyst for major moves in most stocks, allowing underfollowed stocks to pop up on people’s radars. 🧭

Stocktwits user @AskLou posted one of these companies today, namely Parsons Corp., which hit all-time highs after beating earnings and revenue estimates. 

While the price momentum is keeping the name in the favor of technical analysts, its fundamental exposure to critical infrastructure and other key growth areas also keeps fundamental investors excited. 🤩

Carvana Cruises Higher After Earnings 🚗

ServiceNow Sits Just Above Former Resistance 👀

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