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Here are a few more predictions for the week of May 13. Stock Mentions: Alibaba, Cisco, Nvidia, AMD, Microsoft
Michael Kramer and the clients of Mott Capital own Microsoft and Cisco
Alibaba reports results this week, and the trade war worries messed things up for Alibaba which had been performing strongly. I think the stock rebounds this week and rises back to $187 following results.
Cisco fell to support at $52.25, and it has held thus far. The RSI is trending higher, and I think that means the stock continues to climb and back to $57.50 following results.
Nvidia, unfortunately, may be facing some of the same datacenter weakness that Intel saw in its latest quarter. I first noted that Nvidia Is On Shaky Ground Heading Into Results on May 8 and that Intel’s results were not a good sign for Nvidia at the of end April. I think the stock may heading lower still, potentially to $150.
The chart for AMD is still bullish; it is just taking a long time to happen. I still think it can head towards $31.50.
Microsoft has filled the gap, and the stock looks as if it can to head higher now towards $141.
Enjoy your and Sunday, and Happy Mother’s Day to all the Mom’s out there!
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