7 Monster Stock Market Predictions For The Week of Sept. 28

By Michael Kramer of Mott Capital Management

Founder/CEO at Mott Capital Management, LLC • Sep 27, 2020 at 2:38 PM EDT

The upcoming week will be a big one for stocks as it is loaded with economic data that is likely to move markets. The S&P 500 finds itself at a make or break moment as it nears a level of technical resistance at the upper end of its trading channel.

The upcoming week will be a big one for stocks as it is loaded with economic data that is likely to move markets. The S&P 500 finds itself at a make or break moment as it nears a level of technical resistance at the upper end of its trading channel. If the S&P 500 futures can’t clear and hold above 3,312, it seems likely we would head to 3,150.

Gold (GLD)

I happen to think that gold will suffer, likely falling to $1,790.

Netflix (NFLX)

Netflix appears to be in a megaphone pattern, and that likely means it will fall to the lower end of that pattern to around $450.

Micron (MU)

Micron will report results this upcoming week, and some bearish bets in the options market indicate the stock may fall to around $45.50.

Nvidia (NVDA)

Nvidia has been flirting with breaking the uptrend for the last couple of weeks. If the market breaks this week, so will Nvidia, potentially falling to about $460.

Apple (AAPL)

Apple is facing stiff resistance at a downtrend, too. Perhaps this is the week it will finally break and fall to $96.

AT&T (T)

AT&T has been falling apart, with its next stop likely at $27.30.

Disclosure:

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN AAPL.

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 results.

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.

STOCKS IN THIS ARTICLE

Also Mentions:

T AAPL MU NFLX NVDA GLD SPY

Comments

Back to all articles