8 Monster Stock Market Predictions For The Week Of August 26
S&P 500 (SPY)
Stocks will be on the move again this week. Monday is likely the day that sets the tone for the rest of the week. The significant level of to watch will come at the 2825 level for the S&P 500, with a break of that level sending the index sharply lower. So, we will need to see 2825 hold. Premium content: Your Survival Guide To The Week Of August 26
With all the wild price swings, the charts feel harder to read this week.
AMD
AMD fell back to support around $29.40, and $27.25 seems like the next likely stop for the stock.
Amazon
Amazon (AMZN) is holding on to the uptrend, and that level needs to continue to hold or the stock risks a further decline to around $1620.
Facebook (FB) has been struggling recently, even before Friday’s sell-off, and now $173 seems like the next level to look for.
Micron
Micron (MU) appears to be rolling over, with the next significant level to watch at $42 and then $38.70.
Bank of America
Bank of America (BAC) may continue to drift lower as the yield curve remains under pressure, with $25.75 as the next significant level of support.
JD
JD.com (JD) failed once again at $31.50, and there is still a gap to fill around $27.40.
Alibaba
Meanwhile, Alibaba (BABA) may be on its way back to $151.
Disclosure: Mott Capital Management, LLC
is a registered investment adviser. Information presented is for educational purposes only ...
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