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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Earnings Predictions for the week of July 22 – Stock mentions: SNAP, BA, TSLA, FB, AMZN, GOOGL, INTC
Michael Kramer and the clients of Mott Capital own TSLA and GOOGL
It is going to be a busy week for earnings, with companies like Facebook, Tesla, Alphabet, Amazon, and more all reporting results. So I’m going to give you predictions using a technical take only on the stocks. Usually, I do options and fundamental analysis too, but there are just too many companies this week to that. I am going to present in order of when they are reporting.
And no, I am no Nostradamus
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Snap is first up, and the stock hasn’t been acting particular well heading into these, usually not a good sign. The chart doesn’t look particularly strong either. SNAP has fallen below an uptrend and failed at resistance at $16. The RSI is also starting to know trend lower, suggesting momentum has turned from bullish to bearish. I think there is a good chance the stock is trading around $13.20 follow results.
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Boeing seems it can’t do any wrong. No matter what the negative headline the stock goes up. It sticks to the long-term uptrend like glue and has once again cleared resistance around $370. I wouldn’t be surprised to see the stock trading around $400 or higher following the results.
Facebook has a history of crushing earnings estimates, and I’m sure this quarter will be no different. I think the stock trades back to its all-time highs around $219.
TSLA I have been saying is going higher since $195, and I still think it’s going higher, but this time to $300.
Here is a different view of AMZN I haven’t shared before and because of it, I think the stock trades down to around $1810 after the company disappoints with weaker than expected revenue.
Alphabet learns from its first quarter mistakes and puts up a better quarter with better commentary. The stock continues to trend higher and continues to work towards filling the gap at $1,300.
Intel has also been trending higher, and I think the stock continues to move higher towards $53.
Let’s see how many of these predictions I actually get right!? 🙂
Have a great Sunday!
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