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9 Monster Stock Market Predictions For the Week of March 4

9 Monster Stock Market Predictions For the Week of March 4

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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Stock Market Predictions for the week of March 4

Michael Kramer and the clients of Mott Capital own Apple and Tesla

It will be a modestly busy week with the ADP Job report Wednesday and the BLS Job report on Friday. The consensus is for a non-farm payroll job increase of 178,000 with an unemployment rate of 3.9%, and average hourly earnings rising by 3.4%.

S&P 500 (SPY)

The S&P 500 will attempt to continue to rise after a strong showing the past few weeks. The technical charts continue to point an S&P 500 on the rise. Should the index break out and climb over 2,812 it is next stop would be around 2,870.

S&P 500, spx

Apple (AAPL)

Apple is still heading higher and continues to be on a path to rise towards $182.

apple, aapl

Amazon (AMZN)

Amazon continues to show signs of a stock that is likely to rise over the short-term to around $1,770.

amazon, amzn

Tesla (TSLA)

Tesla continues to hold the uptrend that now dates back to October. As long as that trend continues to hold I believe this a stock that is heading higher.  The company is averaging more than 5,600 cars per week, and that has produced more than 55,000 Model 3 so far this quarter, based on Bloomberg’s data. 

tesla

JD

JD’s had a big move higher this week, and now the shares may be getting slightly overbought. I think it would be reasonable and healthy for this one to pull back to around $26 this week before making its next advance higher to $34.

jd

Micron (MU)

Micron pulled back some last week, but the trend continues to be higher towards that $45.50 region.

micron, mu

Roku (ROKU)

Roku has surged following its results, and shares may be getting a bit overbought. I expect $70.75 to serve as resistance with a pullback this week to around $64.

roku

Canopy (CGC)

One of my subscribers asked me about Canopy, and although I don’t follow this space closely, even I know this one of the bigger names in the group. The chart looks bullish with the potential to rise back to $56.25.

canopy, cgc

Iqiyi (IQ)

Finally, a reader asked about Iqiyi, again another I don’t know well, but know is the “Netflix” of China. The stock looks overbought now with a pullback to the trend around $24 the most likely for this week.

iqiyi, iq

Good Luck this week

-Mike

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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.