9 Stock Predictions For The Week Of June 17
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.
S&P 500 (SPY)
The 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.
Intel (INTC)
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.
Netflix (NFLX)
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 (AMZN)
Amazon (NASDAQ:AMZN) looks as if this week, it can finally make it’s way $1,900.
Biogen (BIIB)
Biogen (NASDAQ:BIIB) looks as if it is at the top of the range and may be heading back to around $215.
Roku (ROKU)
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 (JD)
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.
Soybeans?
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.
