Home » 5 Monster Stocks To Watch for Wednesday August 21

5 Monster Stocks To Watch for Wednesday August 21
Stocks will try to rebound on August 21 and try to break out. I give you five stocks to watch: SRPT, BAC, AMZN, AMD, and JD

5 Monster Stocks To Watch for Wednesday August 21

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

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August 20 – Stock mentions: SPY, VXX, FXI, SRPT, BAC, AMZN, AMD, JD

Thank you, MarketWatch for making our August 19 commentary your call of the day. 

For August 21

S&P 500 (SPY)

Stocks had a down on August 20. Not the greatest sign for those looking for the index to break out. However, I have no lost much faith. I still believe that we can continue to climb higher in the coming weeks, despite the one-day pullback.

There is the possibility we continue to drift lower on Wednesday, August 21, as the index works its way towards 2890, in an attempt to refill a gap. However, I don’t think that will be the case.

spx, spy

When looking at the S&P 500 e-minis tonight, we can see the futures already filled the gap at 2892 and have started to turn higher once again. It is a positive sign that stock rise tomorrow once trading resumes on August 21 at 9:30 am.

es, S&P 500 futures

Again, the big level of resistance for the S&P 500 is the 2935 level, I can’t emphasize enough how important it is that we break out.

VIX (VXX)

The VIX index also managed to stall out at the 17.5 level today as well, and that could be a positive sign for equities. As long as the VIX continues to stay below that level, I think stocks move higher.

vix, vxx

Shanghai (FXI)

Another positive is that the Shanghai composite appears to be nearing a pretty big turn around and potential move higher.

shanghai

Sarepta (SRPT)

I haven’t followed Sarepta as much as I use too, but I did see the negative news today. The stock fell sharply to support at $96.25, and that managed to hold. But it needs to continue to hold, or the stock could be heading back to $82.50.

Sarepta

Bank of America (BAC)

I still think Bank of America has further to fall, $25.75 seems like a reasonable level of support. I don’t see how the bank stocks do well in this low rate world.

bank of america, bac

Amazon (AMZN)

I’m struggling with what to make of Amazon these days. The stock seems stable at in the $1770 region, but yet the stock doesn’t go up? The chart almost has a bear flag pattern. We will need to continue to monitor. For now, I’m sticking with my view of $1900. We will see if we get better clarity tomorrow.

amazon, amzn

AMD (AMD)

AMD has failed at $34.50 on many occasions. I think the stock still has further to fall, with the first stop at $29.40.

amd

JD (JD)

JD.com made back to $31.50 and stopped rising once again. There is a big gap to fill at $27.50, be careful.

jd

Night!

-Mike

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.