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For the Week of August 26Â – Stock mentions: SPY, AMD, AMZN, FB, MU, BAC, JD, NVDA
Podcast for the week of August 26:
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S&P 500 (SPY)
Stocks will be on the move again this week. Monday is likely the day that sets the tone for the rest of the week. The significant level of to watch will come at the 2825 level for the S&P 500, with a break of that level sending the index sharply lower. So, we will need to see 2825 hold. Premium content: Your Survival Guide To The Week Of August 26
With all the wild price swings, the charts feel harder to read this week.
AMD (AMD)
AMD fell back to support around $29.40, and $27.25 seems like the next likely stop for the stock.
Amazon (AMZN)
Amazon is holding on to the uptrend, and that level needs to continue to hold or the stock risks a further decline to around $1620.
Facebook (FB)
Facebook has been struggling recently, even before Friday’s sell-off, and now $173 seems like the next level to look for.
Micron (MU)
Micron appears to be rolling over, with the next significant level to watch at $42 and then $38.70.
Bank of America (BAC)
Bank of America may continue to drift lower as the yield curve remains under pressure, with $25.75 as the next significant level of support.
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[youtube-feed feed=7]JD (JD)
JD.com failed once again at $31.50, and there is still a gap to fill around $27.40.
Alibaba (BABA)
Meanwhile, Alibaba may be on its way back to $151.
Have a good week.
-Mike
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Charts used with the permission of Bloomberg Finance L.P. This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.