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10 Stocks That May Move The Markets On August 14
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MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF AAPL and celg
S&P 500
S&P 500 ($SPY) fell again, and so we now rest at 2,821. Still, 2794 to 2800 has held as firm support, so we need to see that level continue to hold should a retest occur. It is disappointing that the S&P 500 failed just above just above 2,853. If we break support at 2,794 I would grow more concerned that more declines would be on the way.
Technology
The uptrend in technology is still firm on the $XLK, and we need to watch for support around $72. We can see the ETF failed at resistance, and so tomorrow is an important day, should we rise, the ETF breaks out and goes on to higher prices. If we fell through support at $72, that would be bad indeed.
Apple
Apple ($AAPL) tells the story of a stock that is ready to break out and rise. The technical chart shows a pattern for a rising triangle, and that is about as bullish as you can get these days. Should it break out I forecast a rise of nearly 11 points $220.
Amazon
Amazon ($AMZN) rose to about 1,925, and the gave back some. Perhaps a pullback to $1, 840 would be healthy for the stock? Nothing can rise in a straight line.
Read More on Amazon totally free: Amazon’s Stock May Rise 11% as Earnings Quadruple
Facebook stayed below resistance today at $183 and looks as though it will head towards $173, as I noted yesterday.
Micron
Man, Micron just has me biting my nails. The good news, even with all the negatives, the stock holds the uptrend. That has to be good for something.
Biogen
Moving on Biotech doesn’t look super hot either these days. Biogen continues to look relatively weak here, and I see it moving towards $320.
Celgene
Celgene ($CELG) does keep trending higher, and now $97 does look to be in play. What a long way this still has to go.
Home Depot
Home Depot ($HD) reports this week, and that chart seems dreadful. It looks like a head and shoulders pattern is setting up. Upside looks limited to $208, the downside to $172. This thing seems to be in trouble.
VMWare
VMWare’s stock better find a bounce, and soon.
JD
JD.com ($JD) looks to be breaking down and has now fallen below support at
Alibaba
Alibaba ($BABA) also continues to drift lower, and if you want to know which $baba is going, just what the Chinese currency RMB.
China
The RMB is not doing so hot up and has weakened to 6.90. Yep, the best way to fight tariffs, devalue to offset the impact of the higher taxes. So far the currency has only depreciated by about 10 percent since April. So what is that like another 15 percent to go? So that would take the RMB to 7.25 to the dollar?
That’s it today. Back tomorrow!
-Mike
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