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12 Stock Predictions: Alibaba Sets Up Potential Move Higher

By Michael KramerStock MarketsApr 22, 2019 01:08AM ET
www.investing.com/analysis/12-monster-stock-market-predictions-for-the-week-of-april-22-200408948
12 Stock Predictions: Alibaba Sets Up Potential Move Higher
By Michael Kramer   |  Apr 22, 2019 01:08AM ET
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As noted yesterday it will be a big week for earnings, and I already provided you with my predictions for the 4 big reports.

It will also be a big week because we will get our first official reading for first quarter GDP growth and estimates are for 2%. The Atlanta Fed GDPNow is tracking the quarter at 2.8%.

S&P 500 (SPY)

The S&P 500 refilled the gap down at 2,891 from the break out on April 11. It should allow the S&P 500 to continue trending higher this week, giving us a clean break above resistance at 2,915.

S&P 500, spy
S&P 500, spy

Russell (RUT)

The Russell fell hard on last week but managed to hang onto support at 1565. I think we will get a bounce back to the upper end of the range and perhaps back to 1,593.

russell, rut
russell, rut

Biotech (XBI)

Biotech bounced off support at $82.90, and more important is that the RSI continues to hold its uptrend as well. I think we see a rebound this week perhaps back to $90.

apple, aapl
apple, aapl

Apple (AAPL)

Apple Inc (NASDAQ:AAPL) will likely continue to rise as it and move towards $209.

APPLE, Aapl
APPLE, Aapl

Netflix (NFLX)

Netflix Inc (NASDAQ:NFLX) continues to trade sideways, with this slightly up bias, and for that reason, I continue to think it moves toward $380.

netflix, nflx
netflix, nflx

AMD (AMD)

Advanced Micro Devices Inc (NASDAQ:AMD) will likely continue to rise too, moving higher again to around $29.40.

amd
amd

JD.Com (JD)

Jd.Com Inc Adr (NASDAQ:JD) is likely getting ready for its next big move higher towards $35.

jd
jd

Alibaba (BABA)

Alibaba Group Holdings Ltd (NYSE:BABA) is looking bullish too, with that rising triangle pattern, setting up a potential move to $201.

baba
baba

Square (SQ)

Square Inc (NYSE:SQ) has broken down and appears to be heading towards $65.50.

square, sq
square, sq

Qualcomm (QCOM)

Anyone that thinks technical’s don’t matter should look at this chart in Qualcomm Incorporated (NASDAQ:QCOM). Do you think the recent stocks pause is by chance? I do not believe so. A rise above $82 sends it towards $88.

qcom, qualcomm
qcom, qualcomm

Roku (ROKU)

I think Roku Inc (NASDAQ:ROKU) continues to move towards $52.

roku
roku

Acadia (ACAD)

I had thought ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) would see $31, but the biotech sell-off has taken the stock in a new direction. Unfortunately, this is a stock that is very much pushed around by the ETF’s. So, for now, $27 is once again resistance.

acadia, acad
acadia, acad

Disclaimer: Michael Kramer and the clients of Mott Capital own Apple, Acadia, and Netflix.

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12 Stock Predictions: Alibaba Sets Up Potential Move Higher
 

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12 Stock Predictions: Alibaba Sets Up Potential Move Higher

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Tom Romero
Tom Romero Apr 25, 2019 11:59AM ET
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Great, useful, and concise. Thank you, sir.
 
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