I mentioned in my Nov 7 (See below) post that the TESLA stock might reach $120. It did reach $121 last week. Prepare for a short term bounce over the next few weeks upto $150 before heading down to $80. The stock might consolidate between $80 and $100 over the next one year. Good luck.
Tesla might test 100 EMA on a monthly chart. This will take stock down to 120. The divergence indicator will retest May 2019 levels where it will form double bottom.
I think there is more downside for the Apple stock. The MACD still look overbought. All previous markets have ended with Apple testing 50 EMA on a monthly chart. There are few instances (1999, 2001, 2008) where Apple stock went below 50 EMA on a monthly chart. I still believe that the Apple stock will eventually bottom out between 80 and 90 which is below 50...
Till now the Apple has performed very strongly when compared to SPX and IXIC (Nasdaq). Most of the past bear markets have ended with Apple testing the 200 EMA on a weekly chart.. I think the Apple will underperform over the next few months and the stock will eventually bottom out between 80 and 90 which is below the weekly 200 EMA.
SPX might bottom between 2500-2600 (150 EMA on a monthly chart). Extreme volatile market ahead. Be careful with your investment decision.
My previous posts:
Plotted 3EMA on a weekly chart. SPX might bottom between 2600 and 3000. Extreme volatile market ahead. Be careful with your investment decisions.
See my previous post..
Due to various factors such as rising interest rates, inflation and recession fears, SPX might eventually fall between 2600 (Monthly 150 EMA) and 2900 (Monthly 100EMA) by the end of third or fourth quarter. Be careful with your trades and investments
My previous post:
SPX with head and shoulders pattern on monthly chart looks scary! Looks like SPX will be volatile with ups and downs over the next few months. Let see how the SPX moves. Be careful with your investment decisions!
My previous post:
