August 4 – Stock Mentions – SHOP, DIS, TSLA, AMD, NVDA, FB
Michael Kramer and the clients of Mott Capital own DIS, TSLA
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Here are 6 more Monster Stock Market Predictions for the week of August 5
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Shopify (SHOP)
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 (TSLA)
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.
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Disney (DIS)
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 (FB)
Facebook is now heading lower, with its next level of support at $186. However, a gap fill down to $180 seems likely.
Nvidia (NVDA)
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 (AMD)
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.
-Mike
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