Entering text into the input field will update the search result below

5 Predictions For The Week Of September 8

Sep. 07, 2020 3:06 PM ETApple Inc. (AAPL), AMD, AMZN, QQQ, TSLA2 Comments
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

September 7, 2020


Macro – QQQ

Mike’s Reading The Markets (RTM) Premium Content – NOW WITH A 2 WEEK FREE TRIAL



Nasdaq 100 (QQQ)

The Nasdaq futures are trading down about 1% today, following last week's sell-off, and the futures find these sitting on the uptrend, which has been so critical to this big rally.

To this point, this uptrend has held, despite being tested multiple times over the past few days. A break of this uptrend would be horrible news and would likely send the futures down another 5.5% to around 10,870.

At this point, the RSI is now moving lower and suggesting more decline for the NASDAQ 100.

Tesla (TSLA)

Tesla didn't get into the S&P 500, at least during this round, and the stock is trading lower in Germany, with a dollar equivalent of around $390, which is down from Friday US close of $418. A drop below $390 sets up a decline to about $372. The $372 level is essential because there is no support after that until $331.

Apple (AAPL)

Apple is also trading lower in Germany today, to $119.29 in USD equivalents, and the stock needs to stay above that $115 level of support. I continue to think it is like heading lower towards $109.

Amazon (AMZN)

Amazon is also trading down by about 1% in Germany today, but the level of comes at that uptrend, with a break likely resulting in a drop to $3,100.


AMD had a tough week, and this week isn't likely to be any easier, with the potential to drop back to $71.70.

Have a happy labor day!


Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

Related Stocks

SymbolLast Price% Chg
Apple Inc.
Advanced Micro Devices, Inc.
Amazon.com, Inc.
Invesco QQQ Trust ETF
Tesla, Inc.
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.