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Tesla, Micron, AMD, Square, Chevron & Exxon – The Week AheadMICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF TSLA
Tesla’s ($TSLA) stock jumped in a big way last week, and where the stock goes from here is anyone’s guess. But the technical chart appears to support the stock rising over the longer-term. The pattern in the chart is hard to miss with a rising triangle, while the stock has retested and held the uptrend multiple times, the only way left for the stock to go at this point may be higher.
MicronMicron ($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 $50. mu by Scorpio244 on TradingView.com
AMDAMD ($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 $24. amd by Scorpio244 on TradingView.com
SquareSquare ($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 $64. But over the longer-term shares should be able to continue to climb within their upward channel. sq by Scorpio244 on TradingView.com
Bank of AmericaBank of America ($BAC) continues to rise, and over the short-term shares appear poised to rise to about $33. bac by Scorpio244 on TradingView.com
ChevronThe big oil stocks do not look particularly strong. Chevron ($CVX) shares have failed at their downtrend once again, and will likely retest support at $121. cvx by Scorpio244 on TradingView.com
ExxonExxon ($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
OilFinally, 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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