There will still be plenty of economic data and earnings the week of February 10 to keep stocks jumping around.

7 Monster Stock Market Predictions For The Week of February 10

FEBRUARY 9, 2020

STOCKS: CSCO, ROKU, NVDA, V, NFLX, BABA, UAA

February 13, 2020, Live Streaming Event

Michael will be hosting a live streaming event for members of Reading The Markets  for Seeking Alpha and StockTwits on February 13 at 9 PM ET. It will focus on how he uses fundamentals, technicals, and options market analysis to find stocks on the move. As well as taking questions from members!

He will be reviewing mostly the basics of Technical Analysis and Option Trading

To join the event you can sign up for Reading The Markets by clicking this link

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN CSCO, V, AND NFLX

It will be busy for economic news, with FOMC Chair Jay Powell speaking in front of Congress Tuesday and Wednesday. There will be CPI and Retail sales, as well. But let’s not forget there will be significant earnings this week too. See more in the premium area – Risk-On Returns, More Gains To Come – The Week Ahead For 2.10.20

Cisco (CSCO)

Cisco will report results on February 12 after the close of trading, and the stock has been difficult to deal with in recent months. The trade war with China has damaged the company and hurt sales. The chart for Cisco doesn’t reveal much, except that the RSI is now trending higher, and it would suggest to me that longer-term the stock is likely to start rising again.

cisco, csco

Roku (ROKU) 

Roku has been trending lower for some time, and the RSI suggests that the trend isn’t about to change. The chart appears to be a falling triangle, and I have noted it for some time. The stock has been unable to clear the downtrend on multiple attempts. I think that means that shares fall following results and head lower towards $116 and perhaps $105.

roku

Nvidia (NVDA)

Nvidia has been trending higher and has managed to find some excellent support around $236. I think shares will continue higher towards $268. I believe Intel’s results in the datacenter are a good sign for Nvidia.

nvdiai, nvda

Alibaba (BABA)

Alibaba will also report results, and I had seen some bullish betting this week that suggested the stock rise to around $235 by the middle of March.  Alibaba’s Recent Rally May Only Be Starting 

alibaba, baba

Netflix (NFLX) 

Netflix broke out of a very long-term downtrend this week and rose above resistance at $363. I think that means the stock continues to grind higher towards $385.

netflix, nflx

Visa (V)

I think Visa may have formed a bullish flag pattern that indicates shares rise to around $220. 

visa, v

Under Armour (UAA)

Under Armour has been consolidating nicely beneath resistance at $21.85, and I think this stock finally breaks out and pushes higher towards $24.80. under Armour, uaa

-Mike

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