Home » 8 Monster Stock Market Predictions For The Week of October 27

8 Monster Stock Market Predictions For The Week of October 27
It will be a big week for earnings once again, but that isn't likely to stand the way of the S&P 500 advance.

8 Monster Stock Market Predictions For The Week of October 27

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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For the week of October 28

Stock Mentions: FB, NVDA, AMZN, ROKU, BYND, MSFT, TSLA

Macro Mentions: SPY

MICHAEL KRAMER AND THE CLIENT OF MOTT CAPITAL OWN MSFT AND TSLA

S&P 500 (SPY)

The S&P 500 had a strong finish to the week and is nearing a big technical break out at 3,028. I think that break out happens this week, and the index is trading at new highs by the week’s end. I’m looking for a rise to around 3,050. I go through a rundown of the week and the Fed in this weeks commentary- The Week Of October 28 Will Be About The Fed And Apple

S&P 500, spx

Facebook (FB)

Facebook will report results on Wednesday afternoon, and I noted in an article for Forbes, that I thought the stock would fall. I still believe it can. $180 seems like the logical first stop. Facebook’s Stock May Drop 8% Following Results Amid Higher Costs

fb, facebook

Nvidia (NVDA)

Nvidia rose sharply last week, and it seems likely that the stock is heading towards $217.

Nvidia, nvda

Amazon (AMZN)

Amazon had a bounce-back session on Friday afternoon following the steep Thursday after-hours sell-off. I still think the stock is not out of the woods. Resistance for the stock is around $1775, and I believe that the stock will struggle at resistance.  I talked more about the reasons why I think Amazon may have problems in this video from Friday. Why Amazon’s Trouble May Only Grow Worse

amazon, amzn

Tesla (TSLA)

Tesla is incredibly overbought now, with the RSI rising sharply above 70.

Meanwhile, $333 is resistance for the stock. It needs to take a breather, and I would prefer for the stock to consolidate around this $300 to $333 region. However, one thing to consider is that there is a big gap around $350 that needs to be filled.

tesla, tsla

Microsoft (MSFT)

Microsoft also continues to look well-positioned to continue its advance. I think the stock finally breaks out and rise to around $150. Maybe not all this week, but perhaps over the next few weeks.

Microsoft

Roku (ROKU)

Roku may be breaking out and getting ready for a push higher towards $150.

roku, roku

Beyond Meat (BYND)

Beyond Meat, reports results tomorrow night, and the lock-up period has expired. It should be an exciting day. I’m looking for a drop to around $86, based on some big options bets, but it could go as low as $78. I talked about it in a write up on Thursday.

beyond meat, bynd

Have a good one

-Mike

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