9 Monster Stock Market Predictions For The Week Of March 4

It will be a modestly busy week with the ADP Job report Wednesday and the BLS Job report on Friday. The consensus is for a non-farm payroll job increase of 178,000 with an unemployment rate of 3.9%, and average hourly earnings rising by 3.4%.

S&P 500 (SPY)

The S&P 500 will attempt to continue to rise after a strong showing the past few weeks. The technical charts continue to point an S&P 500 on the rise. Should the index break out and climb over 2,812 it is next stop would be around 2,870.

S&P 500, spx

Apple (AAPL)

Apple is still heading higher and continues to be on a path to rise towards $182.

apple, aapl

Amazon (AMZN)

Amazon continues to show signs of a stock that is likely to rise over the short-term to around $1,770.

amazon, amzn

Tesla (TSLA)

Tesla continues to hold the uptrend that now dates back to October. As long as that trend continues to hold I believe this a stock that is heading higher.  The company is averaging more than 5,600 cars per week, and that has produced more than 55,000 Model 3 so far this quarter, based on Bloomberg’s data.

tesla

JD

JD’s had a big move higher this week, and now the shares may be getting slightly overbought. I think it would be reasonable and healthy for this one to pull back to around $26 this week before making its next advance higher to $34.

jd

Micron (MU)

Micron pulled back some last week, but the trend continues to be higher towards that $45.50 region.

micron, mu

Roku (ROKU)

Roku has surged following its results, and shares may be getting a bit overbought. I expect $70.75 to serve as resistance with a pullback this week to around $64.

roku

Canopy (CGC)

One of my subscribers asked me about Canopy, and although I don’t follow this space closely, even I know this one of the bigger names in the group. The chart looks bullish with the potential to rise back to $56.25.

canopy, cgc

Iqiyi (IQ)

Finally, a reader asked about Iqiyi, again another I don’t know well, but know is the “Netflix” of China. The stock looks overbought now with a pullback to the trend around $24 the most likely for this week.

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Disclosure: Michael Kramer and the clients of Mott Capital own Apple and Tesla

Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's notice when ...

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