6 Monster Stocks To Watch for the July 29 Trading Session

US Markets

  • S&P 500 Futures -3 points
  • US 10 Year 2.05%
  • VIX 12.76
  • Oil $56.18
  • Dollar Index 98.05

International markets

  • Shanghai -0.12%
  • Hong Kong HSI -1.03%
  • Japan Nikkei -0.19%
  • KOSPI -1.78%
  • German DAX -0.06%
  • UK FTSE +1.17%

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S&P 500 (SPY)

The S&P 500 has been steadily trending higher. Support for the index is currently around 3,014, while resistance continues to hover somewhere around 3,055.

S&P 500, spx

S&P 500, spx

PayPal (PYPLWealth Strength IndexAAPL is Extremely Up and trending Up)

PayPal is flirting with what could be a significant breakdown. The stock is falling out of a rising wedge pattern. Now the stock is sitting just above support at $113.75. Should the stock fall below support it could drop $104.35.

paypal, pypl

paypal, pypl

Micron (MUWealth Strength IndexAAPL is Extremely Up and trending Up)

Micron is falling some this morning. The trend is still higher; however, support for the stock is around $45.50.

micron, mu

micron, mu

Tesla (TSLAWealth Strength IndexAAPL is Extremely Up and trending Up)

Tesla will try to start its recovery from last week’s big sell-off. The good news is that the stock has found support around $225. There is that big gap that needs to be filled up to around $253.

tesla, tsla

tesla, tsla

AMD (AMD)

AMD will report results this week, and $34.50 continues to be the level of resistance. Again, a break above $34.50 seems AMD up to around $36.15.  Premium content AMD Nears Break Out

amd

amd

Starbucks (SBUXWealth Strength IndexAAPL is Extremely Up and trending Up)

JPMorgan and Baird downgraded Starbucks to neutral from overweight, on July 29. Meanwhile, the stock was started with a buy rating $110 price target. Keep in mind this stock is now trading at 32 times 2020 earnings estimates. That a very lofty for multiple for Starbucks.  There is a big gap to fill down to $91.35.

starbucks, sbux

Nvidia has been trending higher and it appears to be a course to rise to around $185.

nvidia, nvda

nvidia, nvda

Have a great day!

-Mike

This article first appeared on Mott Capital.

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