5 Monster Stocks To Watch For The July 22 Trading Session

US Markets

• S&P 500 Futures +6 points
• 10 Year US Treasury Rate 2.04%
• Dollar Index 97.20
• VIX 14.53
• Oil $56.62

International Market

• Japan Nikkei -0.23%
• Shanghai -1.27%
• Hong Kong -1.37%
• KOSPI -0.05%
• FTSE +0.30%
• DAX +0.10%

S&P 500 (SPY)

S&P 500 futures were pointing to a higher opening today. However, the trend in the index is still lower, and the opening doesn’t take us as any closer to topping that downtrend. Today’s resistance will remain along with the downtrend between 3,000 and 2,995.

Meanwhile, a decline below support at 2,975 sends the index lower towards 2,940.

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Micron (MU)

Micron is rising today after Goldman Sachs upgraded the stock with a price target of $56 up from $40. The stock is rising above resistance today $45.50, which should now act as a support level. It also suggests the stock may soon rise to around $54.

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Applied Materials (AMAT)

Applied Materials was also upgraded at Goldman Sachs after being adding AMAT to the conviction buy list from neutral. Meanwhile, the price target rose to $56 from $48. $51 is likely to act as the next level of resistance for the stock.

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Amazon (AMZN)

Amazon is also climbing some today after Deutsche Bank raised its price target on the stock to $2,515 from $2,315. The company will report results later this week. The stock is still trending lower, and I continue to think it is head to around $1,800 following results.

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Microsoft (MSFT)

It could be a big day for Microsoft as it will continue to do battle at $140 resistance. It is a tough call because it appears there is an ascending triangle that is forming indicate the shares may rise. I can continue to think that the stock is heading towards 30.

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Disney (DIS)

Disney is also rising today after having a good showing at the Box Office this week and the back of strong showing for Loin King. The stock may be heading lower to $132.

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