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 4 – Stock Mentions – SHOP, DIS, TSLA, AMD, NVDA, FB
Michael Kramer and the clients of Mott Capital own DIS, TSLA
Listen to this week podcast: The Backdrop For Stocks Remains Very Favorable -Podcast
Here are 6 more Monster Stock Market Predictions for the week of August 5
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Shopify has been rising in recent weeks and has formed an ascending triangle. It would suggest to me that SHOP is likely to break out and head towards $360.
Tesla continues to grind higher, with a clear uptrend. $225 continues to be support for the stock with a gap to fill up at $253.
Disney has been trending higher in a rising channel. I had thought a few weeks ago the stock could fall to around $132. So far that has been wrong. Based on the channel it would seem that $150 is possible.
Facebook is now heading lower, with its next level of support at $186. However, a gap fill down to $180 seems likely.
Nvidia has been falling and at the moment it is holding support at $160. However, over the short term, a drop to $150 appears likely.
AMD appears to have formed a double top after it fell below $32.25. I am afraid that support doesn’t hold at $29.40, opening the door for a decline to $27.25.
Hae a great Sunday!
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.