6 Stock That May Drop During the Week of May 20

Here are a few more stock predictions for the week of May 20, 2019.

The Chinese yuan will continue to devalue against the US dollar and back to 7.

chinese yuan devalue

Yuan Vs. Dollar

The weaker yuan will sink China-based ADR’s Alibaba and JDWealth Strength IndexJD is Moderately Flat and trending Up.com.  The chart below shows the US dollar to yuan in an inverse chart to the one above. One can quickly see how when the yuan was strengthening versus the dollar; the stock prices were able to rise. However, when the currency was weakening, the stocks were falling.

Alibaba (BABA)

I think Alibaba continues to decline this week, dropping below $166.60, and heads towards $150.

alibaba, baba, trade war, may 20

JDWealth Strength IndexJD is Moderately Flat and trending Up.com (JDWealth Strength IndexJD is Moderately Flat and trending Up)

JDWealth Strength IndexJD is Moderately Flat and trending Up.com has been unable to rise above resistance at $30 and is likely heading back to $27.50.

jd.com, jd, trade war may 20

3M (MMM)

3M has fallen to its lowest levels since 2016 and looks like it may fall even further to perhaps $164.

3m, may 20

Eli Lilly (LLY)

Eli Lilly may be in danger of falling further this week, with the potential to be on its way towards $104.

eli lilly, lly, may 20.

Nvidia (NVDAWealth Strength IndexNVDA is Moderately Flat and trending Up)

Nvidia is likely to continue to decline this week too, heading towards $150. (premium video content: AMD And Nvidia 2 Opposing Points Of View)

nvidia, nvda

Xilinx (XLNXWealth Strength IndexXLNX is Extremely Up and trending Up)

Xilinx may be looking to fill the gap around $92.

xlinix, may 20, xlnxThat is it for the weekend, see you Monday.

This article first appeared on Mott Capital.

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