There’s an underlying current in the stock market’s surface that may give investors some solace as the broader market continues to chop around in a tight range. Around 71% of S & P 500 stocks have climbed above their 200-day moving averages, the highest level in two years, according to a CNBC analysis. The 200-day is a key level watched by traders and analysts identify long-term trends. The large portion of names trading above that level suggests investors are putting money to work in stocks other those tied to the artificial intelligence trade — such as megacaps and chipmakers. The timing is interesting as the S & P 500 has not set a new high since June 2. Uncertainty around the Iran war , volatile oil prices , a hawkish Federal Reserve and a sharp sell-off in semiconductor shares have all kept the index from reaching an all-time high. Despite the seemingly lackluster market action, under-the-surface trends point to a more solid market. Below is a list of S & P 500 stocks that have recently topped their 200-day moving averages. PayPal PayPal recently moved above its 200-day moving average. The payments company has struggled to stand out in an increasingly competitive financial payments landscape. The company recently released its second-quarter report this week, with the results exceeding analyst estimates. Its payment volume reached $486.4 billion and the company raised its full-year earnings guidance amid ongoing takeover speculation . CNBC’s David Faber confirmed that Stripe and Advent International have made a joint offer to buy PayPal in a deal valued at $53.4 billion. The company replaced CEO Alex Chriss this year, who was brought in to turn around the company’s poor performance. The board named HP’s Enrique Lores as its new chief executive . Citi analysts said in a July 7 note that PayPal is investing heavily to revive its growth, but investors remain skeptical after “previous turnaround efforts failed to reverse the company’s slowdown.” GoDaddy GoDaddy has also moved above its 200-day. In its first-quarter report posted in late April, the company reaffirmed a full-year free cash flow target of about $1.8 billion and emphasized its commitment to Airo artificial-intelligence products. “We are bringing our AI transformation to life, expanding our capabilities and building on our domain leadership to power an open internet and deliver lasting value for our customers,” GoDaddy CEO Aman Bhutani said in a press release . In November, GoDaddy brought agentic AI to small businesses through Airo.ai . In May, it launched launched Airo for WordPress . The next real test for GoDaddy arrives Thursday after the bell, when the domain-registration and web-services company reports its second-quarter results . DoorDash DoorDash has also eclipsed its 200-day average after spending a large part of the year below it. In the first quarter, DoorDash gross order value rose 37% from a year prior, with revenue reaching $4 billion, an increase of 33%. The food-delivery company on Wednesday announced that it secured a FAA certification for commercial deliveries using drones . The move could push for autonomous delivery and expand its logistics network. DoorDash Labs has already started hiring across robotics, autonomy, hardware, and operations. “We want drone delivery to work for any merchant, anywhere. We’re building the full stack to make that possible from the ground infrastructure to the drone itself, and the handoff systems that make it work together seamlessly,” Harrison Shih, head of DoorDash Air, said in a statement. “Advances in hardware, compute, and AI are creating extraordinary new capabilities for local commerce, and becoming a certified air carrier accelerates everything we’re building.” DoorDash will release its second quarter 2026 financial results after the U.S. markets close on Wednesday, August 5, 2026. Another stock that made the list is Cintas , which is even approaching a “golden cross,” a technical pattern where a stock’s 50-day moving average crosses above its rising 200-day moving average. Some investors see an upside cross as a bullish indicator that momentum may be strengthening.
The number of stocks trading above a key technical level hit its highest level in two years
Jul 30, 2026
