9 Monster Stock Market Predictions For The Week Of January 21
It will be a short trading week with Monday closed for Martin Luther King Jr. day. It will also be a relatively light week for economic data in the U.S.. with the Markit Manufacturing and Services PMI’s on Thursday.
S&P 500 (SP500, SPX)
The S&P 500 is approaching a significant level of technical resistance and downtrend at 2,690. If the index can manage to rise above that level, it likely triggers a much bigger rally, perhaps to 2,800.
NASDAQ (IXIC)
The Nasdaq has already risen above its downtrend and is likely a positive sign that index can continue to increase. Additionally, it is likely to serve as a positive sign for the S&P 500.
Tech Sector (XLK)
The technology ETF (XLK) is also nearing a potentially big break out at $65.50.
Consumer and Industrials (XLY, XLI)
The consumer discretionary ETF (XLY) is also breaking out, as it the industrial ETF (XLI)
Microsoft (MSFT)
Microsoft has been steadily rising and may be on its way to around $112. The RSI is also nearing a potential break out, which could be a positive sign for the long-term uptrend in the stock.
Apple (AAPL)
Apple has risen above a critical level of resistance at $155, and should it manage to rise above $163; it has room to move up to $182.
Amazon (AMZN)
Amazon is the largest stock in the consumer discretionary sector, and the big hurdle for Amazon doesn’t come until $1,770.
Netflix (NFLX)
Netflix successfully refilled a gap at $335, and it held firm on Friday. If the stock falls below $335, it could drop to around $329. But it seems more likely the stock retest resistance at $355 and moves on to $380.
Tesla (TSLA)
Tesla fell hard on Friday following some less than clear news about its fourth quarter profit. But then again, it doesn’t take much for the short-sellers to get into motion. $300 has been a significant level in the past; I don’t see any reason the stock can’t continue to hold support at $300.
Square (SQ)
Square broke out in a big way last week, and should it rise above $75, it could be on its way to $83.
Roku (ROKU)
Roku still can’t get over $43, and I continue to believe the stock is heading lower to $34.
Micron (MU)
Micron is once again trying to break out, and jump above $37, pushes the stock up to $40.25.
Regeneron (REGN)
Could be on its way towards $440.
Good Luck This Week
Disclosure: Michael Kramer and the clients of Mott Capital own Apple, Netflix, and Tesla
Disclaimer: This article is my opinion and expresses my views. Those views can change at a ...
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