9 Monster Stock Market Predictions For The Week Of Sept. 21

The S&P 500 finished the week below its 50-day moving average and critical technical support. This makes the coming week a crucial time for the market.

S&P 500 (SPY)

Should the S&P 500 firmly drop below 3,300, it would likely set up a further drop to around 3,260, and then to about 3,180. The area around 3,340 should act as a severe level of resistance for the S&P 500 going forward. 

Amazon (AMZN)

Amazon is likely not finished falling and heading towards $2,800. Volume levels have been surging, which indicates more sellers are coming out; the stock is not even oversold, yet. 

Nvidia (NVDA)

Nvidia shares have been falling and are likely heading even lower from here. The stock is resting on a significant uptrend, and once that halts, the shares are likely to fall sharply. Volume levels have surged and the RSI is heading lower. Add in some bearish option betting, and this stock is likely heading 15% lower from here.

Salesforce (CRM)

Salesforce is likely heading lower from here, as it sits on support at $240 with that monster post-earnings gap that needs to filled down around $219.

Apple (AAPL)

Apple also finished the week below crucial support around $108; as I highlighted earlier this week, there is a good chance this one is heading to $96.

AMD (AMD)

AMD finished the week off just below its 50-day moving average, and is currently nearing support at $71.70. A break of support at $71.70 would probably push the shares lower to around $59.

JPMorgan (JPM)

JPMorgan is very close to breaking critical support at $97.50. If that level breaks, watch for $88.50. 

Citigroup (C)

Citigroup has been slammed and it likely isn’t finished, potentially falling to $41.20. 

Square (SQ)

If Square breaks that uptrend, it is a very long drop to $118. I believe it will fall.

Disclosure: Mott Capital Management, LLC is a registered investment adviser. Information ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.