5 Stock Predictions: Apple, AMD, Uber, BAC, Salesforce
Michael Kramer | Aug 12, 2019 01:41AM ET
Here is a list of some more stock market predictions for the week of August 12.
h2 Apple (AAPL)/h2It feels like every time Apple (NASDAQ:AAPL)’s stock gets going some new tariff worries pop up that crash the stock. If there is a good piece of news, it is each time the stock crashes lower; the new low is higher than the previous one. We should also remember that new iPhone cycle will allow the company to reprice their phones and hopefully adjust for any potential tariffs on the way, and can allow AAPL to push past $209 again.
AMD broke above $34.50 on Friday only to close below it by the end of the day. Now there is a giant gap that needs to be filled at $29.40.
Uber (NYSE:UBER) fell sharply following its results but managed to close well off the lows. I still think this one heads lower towards $36.
Get The News You Want
Bank of America (NYSE:BAC) is looking weak as are most bank stocks. I noted mid-week I saw a lot of put buying on the stock. I’m thinking $25.75 is possible, maybe not this week, but in the weeks ahead.
Salesforce.com (NYSE:CRM) has been performing poorly. I had noted in a previous article on July 30, the stock looked very weak, along with some bearish options bets. Now the stock is testing resistance at $144. The stock needs to hold above $138 or could see a decline to $115.
However, the bad news is that the open interest for the September 20 $145 calls saw their open levels rise by over 16,600 contracts on August 5. The bad news is that calls looked as if they were sold, for $7.10 per contract. It would at the very least suggest someone is betting the stock stays below $152 by the expiration date.
Original Post
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.