7 Monster Stock Market Predictions For The Week Of January 27
It will be an incredibly busy week with tons of economic data and earnings. It will be, to some extent, a defining week for the market, with many of the biggest companies reporting results.
S&P 500
The good news for the S&P 500 (SPY) is that the index found some support around 3,282, but it may find it hard to get back above 3,300. If the index fails to rise above 3,300 on Monday, it seems likely we are heading lower to 3,255, and then 3,240.
Apple
Apple (AAPL) will report results on Tuesday, and this company will have a ton of pressure on it to deliver a beat and raise quarter. I own the stock, but I think it might be hard to live up to that pressure. The shares are overbought based on the RSI. Additionally, the RSI is starting to diverge from the rising stock price. There is also a rising wedge pattern forming in the chart, and it suggests to me the stock falls after results, with support first at $310, then $300, and $290.
AMD
AMD will report results on Tuesday, too; I still think this stock will rise to around $59-$60.
Microsoft
Microsoft (MSFT) will report results on Wednesday, and I saw some bullish option betting in this stock a couple of weeks ago, which suggests the stock keeps rising after results. The chart shows the shares are on pace to increase to around $179. Free story- Microsoft’s Stock May Jump As Much As 9% Following Its Quarterly Results
Facebook (FB) will also report on Wednesday, and again I have recently seen some bullish option betting in this one too, and based on the chart, I think we can see the stock head towards $237. Free story- Strong Quarterly Results May Push Facebook’s Stock Even Higher
Tesla
There is probably no company that has higher expectations on it than Tesla (TSLA) , and honestly, anything can happen here. The risk here is higher towards a disappointment, because who knows what the right expectations are for this company given the massive move higher. I think the stock could fall back to the uptrend line, pulling the stock down to around $500.
Amazon
Amazon (AMZN) will report on Thursday, and I can’t remember the last time the stock has been this boring for this long. I think that is ending. It appears a cup and handle pattern is forming, and it would suggest the stock rises following results. The relative strength index is also pointing higher, and it indicates to me the stock moves up to $1970.
Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's notice when the market changes. I am not right all the time and I do not expect to be. I ...
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