6 Stocks Making Moves During The July 22 Trading Session

S&P 500 (SPY)

Stocks finished July 22 slightly higher with the S&P 500 climbing by roughly 30 basis point, closing at 2,985. Despite the up day, the index is still in a downtrend, but for now, is holding support at 2975. At least based on this chart the S&P 500 could stay in a holding pattern until July 31, believe it or not.

An increase above 3,000 on the S&P 500 is a breakout, a drop below 2,975 is a breakdown. It is that simple at the moment.

S&P 500, spy

S&P 500, spy

Amazon (AMZNWealth Strength IndexAAPL is Extremely Up and trending Up)

Amazon I continue to believe that the stock is going to fall in the weeks following results, potentially to the uptrend around $1800. Now let’s get something straight, the longer-term setup in Amazon is what appears to be an ascending triangle. It means longer-term the AMZNWealth Strength IndexAAPL is Extremely Up and trending Up is likely to rise. What I am merely saying is that over the short-term I think the stock falls to around $1,800. If you’d like to read more why I think Amazon may fall I wrote up an article today, noting some bearish options bets.

If you agree with me great, if you don’t, you don’t. I’m not right all the time, nor do I claim to be.

Amazon, amzn

Amazon, amzn

Acadia (ACAD)

Acadia is falling on July 22 after reporting disappointing Schizophrenia results. Truthful I’m surprised the results were negative. But that is how it goes. The good news is that the company is not moving forward with it. There are plenty of other trails in the works.  Unfortunately, it likely means a drop back to $21 to $22 for now. We’ll have to see how earnings are on July 31.

Acadia, acad

Acadia, acad

Apple (AAPLWealth Strength IndexAAPL is Extremely Up and trending Up)

Apple continues to trend nicely higher; I will have to reassess the stock now that is has come within reach to $209.

apple, aapl

apple, aapl

Disney (DIS)

There was no mistake in my write up this morning when I wrote I thought the DIS could fall to $132.  There is a rising wedge in the stock while falling below support at $141. I believe there is a good chance the stock falls to $132. I own it, I’d rather it not, but if it does, it does. I still think that longer-term it is heading to $175.

Disney

Disney

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

Micron appears to have broken out on July 22 and could be taking its next leg higher. I wrote a free article today, noting shares could rise to around $54.

Stocks rose on July 22 with the S&P 500 climbing by 30 basis points. Today we look at <a href=AMZNWealth Strength IndexAAPL is Extremely Up and trending Up, ACAD, AAPLWealth Strength IndexAAPL is Extremely Up and trending Up, DIS, MSFTWealth Strength IndexAAPL is Extremely Up and trending Up, MUWealth Strength IndexAAPL is Extremely Up and trending Up" width="1615" height="733" data-lazy-type="image" />

Stocks rose on July 22 with the S&P 500 climbing by 30 basis points. Today we look at <a href=AMZNWealth Strength IndexAAPL is Extremely Up and trending Up, ACAD, AAPLWealth Strength IndexAAPL is Extremely Up and trending Up, DIS, MSFTWealth Strength IndexAAPL is Extremely Up and trending Up, MUWealth Strength IndexAAPL is Extremely Up and trending Up" width="1615" height="733" />

Microsoft (MSFTWealth Strength IndexAAPL is Extremely Up and trending Up)

I have been watching Microsoft closely, and the stock has been acting very well.  After today, I’m decided if I think the stock can pull back or move higher. It appears an ascending triangle may be forming, and that means that the stock could continue higher. $140 continues to be the key test.

Stocks rose on July 22 with the S&P 500 climbing by 30 basis points. Today we look at <a href=AMZNWealth Strength IndexAAPL is Extremely Up and trending Up, ACAD, AAPLWealth Strength IndexAAPL is Extremely Up and trending Up, DIS, MSFTWealth Strength IndexAAPL is Extremely Up and trending Up, MUWealth Strength IndexAAPL is Extremely Up and trending Up microsoft" width="1615" height="733" data-lazy-type="image" />

Stocks rose on July 22 with the S&P 500 climbing by 30 basis points. Today we look at <a href=AMZNWealth Strength IndexAAPL is Extremely Up and trending Up, ACAD, AAPLWealth Strength IndexAAPL is Extremely Up and trending Up, DIS, MSFTWealth Strength IndexAAPL is Extremely Up and trending Up, MUWealth Strength IndexAAPL is Extremely Up and trending Up microsoft" width="1615" height="733" />

Have a good day.

-Mike

This article first appeared on Mott Capital.

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