9 Stock Predictions: Amazon Could Head Up Towards $1,900
Michael Kramer | Jun 16, 2019 04:44AM ET
The week of June 17 will be busy with the FOMC meeting start on Tuesday and concluding on Wednesday afternoon. The CME FedWatch shows there is just a 23% chance of rate cut during this meeting, and a 77% chance rates remain unchanged. However, the same tool is also showing that there is a 68% chance of a rate cut in July. So the market will be listening very carefully for clues about a July cut.
h3 S&P 500 (SPY)/h3The current pattern in the S&P 500 is suggesting that the index rises this week. Should the index break out and rise above 2,915 it could set up a run towards 2,940 for the week of June 17.
I’m going to be watching the semiconductor stocks very closely this week to see if they can bounce back from Friday’s sell-off. Intel (NASDAQ:INTC) will be of interest to me because the stock is now trading off its lows and has been consolidating nicely around $46. I think this week the stock will get back to $48 and push towards $50 over time.
There is very slowly a change in trend showing for Netflix (NASDAQ:NFLX). The RSI is starting to very gradually begin to rise again, despite NFLX falling, that a bullish divergence. We will need to watch this closely this week to see how things develop. However, NFLX stays range bound the week of June 17.
Amazon (NASDAQ:AMZN) looks as if this week, it can finally make it’s way $1,900.
Get The News You Want
Biogen (NASDAQ:BIIB) looks as if it is at the top of the range and may be heading back to around $215.
Roku Inc (NASDAQ:ROKU) had a nice move higher; I think that has probably played out for now, with a drop to $94 on the way. Roku’s price has been rising while the RSI has been trending lower, a bearish divergence. I think ROKU starts heading lower.
Jd.Com Inc Adr (NASDAQ:JD) may have little cup n’handle forming. I saw some very bullish option betting early last week; I wrote up in my premium area. Maybe the JD makes it back to $28 this week.
Hey maybe things are looking better for a China/US trade deal, Soybean prices have risen sharply in since the end of May. Soybeans prices collapsed nearly two weeks before the infamous Sunday morning tweet. Maybe it pays to listen the what the beans have to say.
Original Post
/h2
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.