6 Monster Stock Market Predictions For The Week Ahead

6 Monster Stock Market Predictions For The Week Ahead


It will be another busy week for stocks with Powell slated to before congress on Tuesday and again on Wednesday. We will get some regional Fed data, the survey, and the weekly

It will be important for the to hold 3,000 to start the week because if the index breaks 3,000 early in the week, it could put a lot of pressure on equities for the entire week. Should the index break 2,950, things could get tricky and result in a fast drop to around 2,860.

This week is also options expiration, and the significant open interest levels are at 2,800, 2,900, and 3,000. These significant open interest levels could act as magnets this week, should the markets begin to move lower. Open interest levels thin out after the 3,000 strike price.

Disney

Disney broke an uptrend, and I still happen to think investors are underestimating the potential damage that is beginning inflicted on Disney, and that the stock has further to fall. The next significant level of support for the stock comes around $109.

Walt Disney Daily Chart

Alphabet

Alphabet (NASDAQ:) broke the uptrend, and now $1,430 is acting as resistance. The uptrend in the RSI is broken, and that suggests the stock move lowers towards support at $1360.

Google Inc Daily Chart

Square

Square tested and held the uptrend this week, but the RSI is now moving lower, and that suggests the stock breaks the uptrend and moves lower to $79.

Square Inc Daily Chart

Shopify

Shopify (NYSE:) has been losing a lot of momentum in recent days, with an RSI that is steadily trending lower. All it will take is a break of support around $675 to push shares back to $590.

Shopify Inc Daily Chart

Intel

Intel (NASDAQ:) broke its uptrend on the RSI and couldn’t get back above $59.75 last week. It probably means it continues lower towards $55.90.

Intel Corp Daily Chart

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Michael Kramer


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