Here are six more monster stock market predictions for the week of August 5.
Shopify
Shopify (SHOP) has been rising in recent weeks and has formed an ascending triangle. It would suggest to me that SHOP is likely to break out and head towards $360.
Tesla
Tesla (TSLA) continues to grind higher, with a clear uptrend. $225 continues to be support for the stock with a gap to fill up at $253.
Disney
Disney (DIS) has been trending higher in a rising channel. I had thought a few weeks ago the stock could fall to around $132. So far that has been wrong. Based on the channel it would seem that $150 is possible.
Facebook (FB) is now heading lower, with its next level of support at $186. However, a gap fill down to $180 seems likely.
Nvidia
Nvidia (NVDA) has been falling and at the moment it is holding support at $160. However, over the short term, a drop to $150 appears likely.
AMD
AMD appears to have formed a double top after it fell below $32.25. I am afraid that support doesn’t hold at $29.40, opening the door for a decline to $27.25.
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