5 Stocks You Should Probably Avoid During The May 15 Trading Session

US Markets

  • S&P 500 Future -8.25 points
  • 10-Year yields 2.38%
  • Oil $60.99
  • VIX 18.34
  • Dollar Index 97.52

International Markets

  • Shanghai Composite +1.9%
  • Hong Kong HSI +0.52%
  • Japan Nikkei +0.58%
  • South Korea KOSPI +0.53%
  • UK FTSE -0.05%
  • Germany DAX -0.53%

International Stock Market

Shanghai

The good news is that Asia rallied last night and for the most part, the Shanghai Composite is showing signs of life climbing above resistance at 2,920. It does create the opportunity for a gap fill at 3065 over the coming days.

China shanghai stock market may 15

US Stock Market

S&P 500 (SPY)

The S&P 500 is pointing to a slightly lower opening on May 15.  If the current indications hold it will result in 2,836 acting as resistance once again, with the index falling below it to start the day. This region continues to be a battleground for the market, and I would better about the current scenario if the index began moving up and away from this region. When we look at the range for the S&P 500, it continues to be 2,790 to 2,863.

S&P 500, stock market, may 15

Alibaba (BABA)

Alibaba is rising following better than expected results and in-line guidance. The stock is testing resistance for now at $183. That will be a crucial level for the stock, should it rise above that price it could be on its way to $188. However, with the current state of tensions and the weakening China yuan, I still think the risk is to the stock falling that seems unlikely. The stock is now falling in the premarket after rising sharply.

Alibaba, Baba, stock, May 15

SalesForce (CRM)

The chart for Salesforce doesn’t look appealing at all to me. The stock seems to be on the cusp of a significant move lower. We can see there is a bearish divergence forming in the chart between the RSI trending lower and the stock heading sideways, and I do not like that set up one bit, $148 seems possible.

saleforce, stock, market, may

Bank of America (BAC)

Bank of America doesn’t look good either, and with yields now falling, the banks could be facing more losses. Bank of America could see a decline to around $26.60.

1 2
View single page >> |

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 ...

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.