10 Stock Market Predictions: Qualcomm Could Continue To Rise
Michael Kramer | Apr 29, 2019 12:51AM ET
The week of April 29 will be one of the busiest and most important for stocks in some time. The economic news flow is too long to list with jobs data and manufacturing PMI coming from around the world. Top that off an FOMC meeting on Wednesday. By the way don’t forget earnings from companies like Apple, Alphabet, AMD, and Square.
h2 Acadia (ACAD)/h2Acadia will report results this week on May 1. I’m not sure what they will say, but I hope it is positive news around the ramp of Nuplazid and better than expected results. The stock found support at $23 and now has to challenge resistance at $27. Maybe one day it can see $31 again.
Netflix Inc (NASDAQ:NFLX) continues to trend its way higher, and it may be the week it finally pushes towards $388.
If we get this big market break out I’m expecting this week; then this may be the week that Amazon.com Inc (NASDAQ:AMZN) reaches $2025.
Healthcare stocks got back to resistance at $89, but I think they reverse and start heading lower again.
I haven’t mentioned Blackberry (TO:BB) in a while, so let’s give it a shot. The stock has now successfully refilled the gap, and now it can continue path higher back towards $9.70
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I think NVIDIA Corporation (NASDAQ:NVDA) may reverse higher towards $185. However, I believe this stock is heading lower again longer-term.
Jd.Com Inc Adr (NASDAQ:JD) will need to break out this week, or it is heading lower. I think it will break out and make that push towards $34.
Alibaba Group Holdings Ltd (NYSE:BABA) has this giant ascending triangle too, and this seems ready to bust higher towards $200.
Qualcomm Incorporated (NASDAQ:QCOM) has the chance to continue to rise this week. They report results on May 1, and I’m betting they boost their full-year outlook now that they have this Apple (NASDAQ:AAPL) deal under their belt. $100 could be within reach.
People love to make fun because I finally got Intel Corporation (NASDAQ:INTC) wrong. I’m willing to bet this stock doesn’t stay down. We know how the market loves to fill gaps. $57 may not be this week, but it will be back.
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