7 Monster Stock Market Predictions For The Week of April 20
Here are seven monster stock market predictions for the week of April 20 as earnings season is set to kick into high gear.

7 Monster Stock Market Predictions For The Week of April 20

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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APRIL 19, 2020




Earnings season will kick into high gear this week, and it could be the determining factor into which way stocks will move from this point forward.

S&P 500 (SPY)

Momentum for stocks has been undoubtedly bullish these past weeks, and it has resulted in a nearly 14% increase since April 3. The relative strength index has been steadily rising as well, supporting the bullish move higher. However, the next significant level of resistance comes around 2,920, which would also market a 61.8% retracement off the lows. It could prove to be a significant turning point should the index fail to rise above that resistance level, with support around 2735. Premium content – Equities May Continue To Rally Despite Disconnect- Week Ahead

s&p 500, spx

Netflix (NFLX)

Netflix has hit overbought levels with a reading of 70, and the trend now appears to be shifting. The RSI failed to make a new high despite the stock making a new high, a bearish divergence. It would suggest that the stock has topped out and could retrace to around $375.

netflix, nflx

Amazon (AMZN)

Amazon will not report results until April 30, but it too has formed a bearish divergence, with the RSI also failing to make a new high. The stock could pullback this week towards $2,135.

Amzn, amazon


AMD has an RSI that is also in a clear downtrend as well, and it too is forming a bearish divergence, suggesting the recent AMD is not likely to last and results in the shares pulling back towards $50.90.


Shopify (SHOP)

SHOP surged last week too, but like the others, it also has a bearish divergence with the RSI failing to make a new high and now trending lower. It would indicate that momentum in Shop is shifting from bullish to bearish, and the shares start trending lower in the weeks ahead. Perhaps back to the trend line around $440.


Apple (AAPL)

Apple’s RSI has also stalled out in recent days, and there is a gap for the stock to fill around $272.

apple, aapl

JD.com (JD)

JD.com has also hit overbought levels, and like the others, the RSI is now trending lower despite the stock hitting a new high. It would indicate that the stock turns lower and heads towards $42.85 in the week ahead.


Enjoy your Sunday!

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