8 Monster Stock Market Predictions For The Week of March 16

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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FED CUT RATES LATE SUNDAY NIGHT, IN A UNEXPECTED MOVE. PLEASE SEE MY LATEST ARTICLE.
March 15, 2020

Stocks: ROKU, NVDA, AMD, SHOP, FB, AMZN

Macro: SPY, SMH,

For the Week of March 16

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What I’m Watching The Week Of March 16

I have been covering the recent turbulence in the markets and have been actively helping my members understand what is taking place in the market place. If you need help during this time or have questions, please free to try my Seeking Alpha Marketplace service Reading The Markets. I also offer a similar service on StocksTwits.

For example, I went live on Thursday to do live Q&A –  Live Stream Starting In 15 Mins 

I enjoy helping, coaching, and teaching investors and traders, even if you just want to have someone to bounce ideas off of. One of the great benefits of the room is the chat area, with knowledgeable members that are also eager to share ideas and thoughts. 

I also provide members with a number google spreadsheet, include a view into my earnings model for the S&P 500. One of the most popular features I now offer is the ability for you to view all of my charts. So if you want to see my current chart of Amazon or any of your favorite stocks I have may written about, that chart would be available to you. 

Again, feel free to try the service out for the first two weeks for free. If you hate it, cancel it. Easy. 

Here to help, 

Mike

The Week of March 16

The week of March 16 is likely to be wild as the bulls and bears continue to fight it out. It certainly seems like the late-day rally on Friday at least gave investors a chance to go home over the weekend feeling a little positive. But the recent patterns in the market suggests that we likely have more work to do before we can start feeling better about anything.

S&P 500 (SPY)

The S&P 500 has been in a mode of gapping lower and working to fill those gaps back up, but that has been followed by moves lower. It likely means we re-test the lows in the 2,500 levels this week. Again, the important thing is that we make through the week without making new lows.

It means that we should likely prepare for a pretty brutal start to the week, with hopefully some signs of improvement towards week’s end.

S&P 500, spx

Nvidia (NVDA)

Nvidia looks as if it is in the early stage of forming a falling wedge pattern, and that eventually means the stock is likely to reverse. But first it probably has further to fall to around as low as $200.

NVDA, NVIDIA

Roku (ROKU) 

Roku has been trending lower and is now in a trading channel, and I think that means the stock continues lower still towards $70.

roku

Shopify (SHOP)

Shopify is approaching support around $353, and a break of that level sends shares lower towards $282. The RSI still hasn’t hit oversold levels.

shopify, shop

AMD (AMD)

AMD is near support at $38.90 and could result in the shares falling to $35.80. Again, the stock isn’t even near oversold on the RSI.

amd

Amazon (AMZN)

Amazon has not hit oversold levels yet either, and break of support at $1680, sends the stock even lower towards $1585.

Amazon, amzn

Facebook (FB)

Facebook has almost filled its gap, which may mean there is still some further room to fall to $152, but the stock may be starting to put in a bottom here, as the RSI begins to shift.

facebook, fb

Semis (SMH) 

The SMH/SPY ratio has remained relatively unchanged during this time, and that makes me think the SMH may still have further to fall.

smh/spy

Perhaps the SMH falls back to around $97.90. 

smh

Anyway, try to have a good week.

-Mike

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.       

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