5 Stocks To Watch As The Market Rises on August 8
The market is set to rise on August 8 after a rough start to the week. Here are 5 stocks to watch YELP, TTD, OSTK, AMD, ROKU

5 Stocks To Watch As The Market Rises on August 8

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August 8 – Stocks to watch: SPY, YELP, TTD, OSTK, AMD, ROKU

US Markets

  • S&P 500 Futures +6.5 points
  • US 10-Year Treasury 1.72%
  • Dollar Index 97.59
  • Oil $52.08
  • VIX 19.5

International Markets

  • Nikkei +0.37%
  • China Shanghai +0.93%
  • HSI +0.48%
  • South Kospi +0.57%
  • UK FTSE +0.17%
  • Germany DAX +0.74%

S&P 500 (SPY)

Stocks are pointing to a higher opening on August 8. We will see where things go from here but based on what I mentioned yesterday; I continue to believe the path for the market is higher from here.  2,890 to 2,900 is the region for the December uptrend that we need to know rise above, and based on the futures; it seems we should retake that level today.

It sets up resistance around 2,915 at the gap fill. Then we find out if 3,000 or 2,825 is in the cards. Premium video: Signs Of A Market Bottom Are Forming

S&P 500, spx

It is also worth noting that spread between the S&P 500 dividend yield and the 10-Year is firmly inverted now, with the 10-Year at roughly 1.7% and the SPY dividend yield at 1.88%.

Again, if history is on our side, then it would suggest that a long-term rally is in the not to distance future.

Stocks To Watch

Yelp (YELP)

Yelp has been trending lower recently, and it appears that for now, the stock is heading towards that powerful level of support around $29.40.

yelp

Overstock (OSTK)

Overstock has been trending higher since breaking out in July. The stock appears to be ready to move higher towards $25.25.

overstock

The Trade Desk (TTD)

The Trade Desk has been rising in a channel for some time. But the RSI is diverging lower. The stock may be getting ready for a change in direction lower, for now support is at $231.

ttd The market is set to rise on August 8 after a rough start to the week. Here are 5 stocks to watch YELP, TTD, OSTK, AMD, ROKU

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Roku (ROKU)

Roku is rising after delivering better than expected results. I still think one should proceed with caution here, with support around $100 and then $94.

roku, roku

AMD (AMD)

AMD is rising today after announcing the launch of its second-generation EPYC processor. The stock could see upside limited to around $31.40.

amd The market is set to rise on August 8 after a rough start to the week. Here are 5 stocks to watch YELP, TTD, OSTK, AMD, ROKU

Have a good day.

-Mike

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This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.