3 Top Holdings Of This ETF Hitting New Highs

The exchange traded fund known as the Communications Select Sector SPDR just hit new highs. Its top holdings include Meta Platforms
FB
(formerly Facebook), Alphabet (former Google
GOOG
) and Disney (it’s still Disney). Investors looking for professional management and added diversification might look at the ETF.

The Communications Select Sector SPDR holds 19 other stocks besides the 3 already mentioned and, according to its website, “seeks to provide precise exposure to companies from telecommunication services, media, entertainment and interactive media & services.”

The daily price chart for the ETF looks like this:

The Communications Select Sector SPDR gapped up this week and managed to stay up there at the new 52-week highs (red circled). You can see how the price broke out above the previous resistance level from late July at $69. The move from the low of $63 in October to Friday’s $70 is a more-than-decent sort-term rally.

Communications Select Sector SPDR Key Components.

The Meta Platforms daily price chart is here:

The stock this week broke above the early October high of $330, hit just below $340 and closed at $335. Meta trades above both up trending 50-day and 200-day moving averages. The late April gap up (red circled) represents some serious post-earnings report frenzied buying.

Here is Alphabet’s daily price chart:

Underperforming the ETF and the 2 stocks mentioned above, this one failed to reach a new high. On the hand, more bullishly, it’s closed for 4 straight sessions above its 50-day moving average. Also, the 200-day moving average trends steadily upward.

Disney is another underperformer for the ETF with this daily price chart:

The stock closed above its 200-day moving average for the first time since May. The 50-day moving average is now trending upward. The huge gap down in May is a target that may be tough to fill — at least, anytime soon.

AT&T is also a holding of the Communications Select Sector SPDR. The daily price chart is here:

It’s another of the underperformers only late this week showing enough buying strength to close above the down trending 200-day moving average. It’s a positive that the 50-day moving average has turned upward. The big April gap down may be a difficult target to fill.