Stocks Are Rising Around The World On February 12

Germany (EWG)

Stocks are rising on February 12 around the globe once again, with all the significant markets across Asia and Europe higher. The German DAX reached an all-time high today rising above its 2018 highs.

 

S&P 500 (SPY)

The S&P 500 futures are rising today by more than 10.75 points back to yesterday’s highs before the afternoon gap-fill party. Again, nothing has changed from a technical standpoint, and my expectations are for the S&P 500 to continue to push higher towards 3,400.

 

Oil 

Oil prices are rising as the risk appetite among investors slowly returns, as the commodity comes out of that falling wedge pattern, and a bullish divergence begins to form on the RSI, and the potential to rise to around $52, and then $54.

 

Amazon (AMZN)

So I took a long hard look at Amazon and used a log chart for it, which is the better way of finding patterns and trends over the longer-term. When looking closely, we can see that Amazon has broken free of an ascending triangle pattern. Based on that pattern and projection, it seems possible that Amazon’s next stop could be around 3,100.

 

Micron (MU) 

Micron is rising today after UBS upgraded the stock to Buy from Neutral with a $75 price target up from $47. The stock’s next likely stop appears to be $61.50. 

 

 

Alibaba (BABA)

Alibaba is creeping higher today and is nearing a resistance level at $220, with a break above that price, I think the stock heads back to ATHs.

 

Nvidia (NVDA)

Nvidia continues to rocket higher today and is cruising through resistance at $268, setting up that push to its ATHs around $295.

 

Visa (V)

Visa’s price target was raised today at OPCO to $220 from $210. I think the stock is rising out of that pennant pattern and is now on its way to $220.