5 Monster Stocks To Watch For The Week Of December 9
Michael Kramer | Dec 08, 2019 04:22AM ET
Stocks had a strong finish to the week, with all the major indexes moving sharply higher.
h3 Russell (IWM)/h3But the Russell maybe the index that has the most gain for the balance of the year. The index failed at resistance on Friday, around 1,638. However, I do expect the index to continue to climb and push towards 1,710.
Roku (NASDAQ:ROKU) is one stock that didn’t act well to finish the week. The RSI is falling, volume levels are dropping, and momentum seems to be fading. Perhaps that means we head below $135.
NVIDIA (NASDAQ:NVDA) continues to act poorly, and the RSI is still declining. The stock failed at resistance at $212, and I think it is heading lower towards $198.
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Bank of America's (NYSE:BAC) chart isn’t an easy one to read, but the RSI is now beginning to change trend and move lower. Meanwhile, the pattern seems bullish. I’m thinking that the stock may end up advancing to $34.50.
Alibaba (NYSE:BABA) fell nearly to the target I had noted last week at $188, to around $189. Now I think the stock is likely heading higher towards $210.
Meanwhile, JD (NASDAQ:JD) continues to show signs of stock that is likely going higher, as well, towards $35.
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