Tesla, Micron, AMD, Square, Chevron & Exxon - The Week Ahead

Tesla, Micron, AMD, Square, Chevron & Exxon – The Week Ahead

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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Tesla, Micron, AMD, Square, Chevron & Exxon – The Week Ahead

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Tesla’s ($TSLA) stock jumped in a big way last week, and where the stock goes from here is anyone’s guess. But the technical chart appears to support the stock rising over the longer-term. The pattern in the chart is hard to miss with a rising triangle, while the stock has retested and held the uptrend multiple times, the only way left for the stock to go at this point may be higher.

The second quarter results did little to fuel the stock’s collapse and for the most part, may have killed the short thesis, for the time being, that of being the need for a cash infusion or stalling demand. But rest assured the short-sellers will come up with a new thesis, they always do.  A breakout comes should the stock rise above its previous highs around $388, and then could send the stock substantially higher. But first the stock will need to clear resistance around $365. tsla by Scorpio244 on TradingView.com


Micron ($MU) stock has performed terribly, and even more disappointing was the failed breakout for the stock in the middle of July. The trends in the RSI are still heading lower, and volume continues to dry up. If there is one piece of good news, the stock is butting up against a long-term uptrend that has been solid since November of 2016. The one thing bulls do not want to see is the stock fail at current levels.  Should shares manage to bounce off the uptrend, a rise to $57 is likely, while a decline could bring shares to roughly $49 to $50. mu by Scorpio244 on TradingView.com


AMD ($AMD) has been losing steam lately, with an RSI now trending lower and volume levels falling quickly. Support in the stock comes around $16.70 over the short-term. The longer-term chart still looks bullish and suggest a rise to about $24. amd by Scorpio244 on TradingView.com


Square ($SQ)looks solid in its setup, and it is hard to argue against the strong bullish uptrend. There is a risk for the stock to fall further over the coming days, perhaps to about $64. But over the longer-term shares should be able to continue to climb within their upward channel. sq by Scorpio244 on TradingView.com

Bank of America

Bank of America ($BAC) continues to rise, and over the short-term shares appear poised to rise to about $33. bac by Scorpio244 on TradingView.com


The big oil stocks do not look particularly strong. Chevron ($CVX) shares have failed at their downtrend once again, and will likely retest support at $121. cvx by Scorpio244 on TradingView.com


Exxon ($XOM) fell below support at $81. The chart is a mess and seems hard to get a clear handle on it.  But a fall to $75 looks like too much. xom by Scorpio244 on TradingView.com


Finally, Oil is once again testing its uptrend at $68. $61 is the level  I’m continuing to look for. oil by Scorpio244 on TradingView.com

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Photo Credit Via Flickr 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.  #tesla #chevron #square #amd #micron

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