Michael Kramer | Apr 01, 2019 08:14AM ET
Shanghai broke out today rising above resistance at 3,150, with the next significant level to watch at 3,223. Should that happen, it would take the index back to its highest levels since last spring. The market is applauding the stronger than expected PMI readings from over the weekend, and signs that perhaps China’s economy is emerging from the doldrums.
The S&P 500 futures are pointing to a higher opening. The index had a big break out at the end of the day on Friday, and I think it finally propels us towards 2,850, and then on to 2,900.
Amazon.com Inc (NASDAQ:AMZN) is rising above $1,800 today. The stock appears to be breaking out of its bull flag pattern, and that would suggest the stock is on the move higher, potentially stopping around $1,850.
Netflix Inc (NASDAQ:NFLX) is moving higher this morning, and it will be among the first companies to report first-quarter results. The stock is rising above resistance at $355 and could be on its way to $378.
NVIDIA Corporation (NASDAQ:NVDA) is finally breaking out too, and that could lead to the rise to $200 we have focused on.
Some of these bank stocks could be due for a short-term bounce. In my first ever article for Investing.com, I noted on Friday that Citigroup (NYSE:C) could be on its way to around $65.50 and Bank of America (NYSE:BAC) could be on its way to $29.50
Alibaba is a name we haven’t focused on, and the stock appears to be gearing up for a move higher to $200.
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