6 More Stock Market Predictions for The Week of August 5

Shopify (SHOP)

Shopify has been rising in recent weeks and has formed an ascending triangle. It would suggest to me that SHOP is likely to break out and head towards $360.

shop, shopify

shop, shopify

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

Tesla continues to grind higher, with a clear uptrend. $225 continues to be support for the stock with a gap to fill up at $253.

+++++———tesla, tsla

tesla, tsla

Disney (DIS)

Disney has been trending higher in a rising channel. I had thought a few weeks ago the stock could fall to around $132. So far that has been wrong. Based on the channel it would seem that $150 is possible.

disney, dis

disney, dis

Facebook (FBWealth Strength IndexAAPL is Extremely Up and trending Up)

Facebook is now heading lower, with its next level of support at $186. However, a gap fill down to $180 seems likely.

facebook, fb

facebook, fb

Nvidia (NVDAWealth Strength IndexAAPL is Extremely Up and trending Up)

Nvidia has been falling and at the moment it is holding support at $160. However, over the short term, a drop to $150 appears likely.

nvidia, nvda

nvidia, nvda

AMD (AMD)

AMD appears to have formed a double top after it fell below $32.25. I am afraid that support doesn’t hold at $29.40, opening the door for a decline to $27.25.

amd

amd

Have a great Sunday!

-Mike

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.