Macro
S&P 500 (SPY)The week of October 21 will be busy with earnings season in full effect. However, the market left off on Friday in a precarious spot and is likely to continue to move lower when it resumes on Monday. The S&P 500 trend has changed and has shifted lower, and that means the index may continue to decline towards 2965 or as low as 2940 to start this week.NASDAQ (QQQ)We can see the NASDAQ also struggled to regain positive momentum on Friday, failing at resistance around 8,110.Stocks
Boeing (NYSE:BA)
Boeing (NYSE:BA) fell apart on Friday, and it will put additional pressure on the company when they report results this week. The chart looks broken, and as I said to a subscriber mid-week, the stock looks like it could fall to $320. That was before Friday’s sell-off.
Johnson & Johnson (NYSE:JNJ)
Johnson and Johnson has a ton headline risk now, and if the stock falls below $ 126.50, a move to $122 seems likely. But after $122 could mean a drop to $111.
Tesla (NASDAQ:TSLA)
Tesla (NASDAQ:TSLA) has been rising steadily, but it has been unable to rise above $267 so far. It needs to rise above that level to push towards $300. I think this week it breaks out and that big push higher begins.
Verizon Communications (NYSE:VZ)
Verizon (NYSE:VZ) closed at its highest price since the year 2000, and now maybe heading to a record high at not seen since 1999.
Apple (NASDAQ:AAPL)
So much for Apple (NASDAQ:AAPL) falling as I thought. Now it seems to be getting ready for its push to $242.
Netflix (NASDAQ:NFLX)
Netflix (NASDAQ:NFLX) tested and is holding the break out at $273, the trend higher continues with the stock pushing back to $320 this week.
Roku (NASDAQ:ROKU)
Roku got back to and failed at resistance around $143. I think the stock continues to fall, dropping back to $122.
Okta (NASDAQ:OKTA)
The chart for OKTA does not look good, with a chance to push even lower towards $87.25.
Zscaler (NASDAQ:ZS)
Zscaler has to hold $42.70, or else $34.75 seems possible.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.
