S&P500 & NVDA &MU &AMZN &TSLA | July Market Forecast
June 26th: U.S. Stock Indices Close Up! What's the price prediction on July? Micronearningsmeetexpectationsbutdropover 6%afterhours.Why?
Nvidia stock price droped since no surprise from shareholdersmeeting.Whatshould traders do next?
Let's check $S&P 500 Index(.SPX.US$ first:
The S&P 500 options are looking bullish, and technical analysis shows that it remains with high market sentiment. Historically, July peaks typically occur during the U.S. Independence Day around July 5th to July 11th. Therefore, in the short term, I remain optimistic.
Next, $Micron Technology(MU.US$ :
Q3 Earnings Report met market expectations with adjusted earnings per share of $0.62 and $6.8 billion in sales. However, the stock dropped over 6% in after-hours trading. The main reason, according to market media, is an uninspiring forecast for the next quarter. My take? It’s a classic case of a bull-bear squeeze. We might see a lower open followed by a rebound tomorrow. For those considering a mid-term buy, I’d recommend waiting for the short-term pullback to end.
Next, $NVIDIA(NVDA.US$ :
In June 26th Shareholders Meeting, No major positive news, leading to a high open but a subsequent drop.I expect volatility with resistance around 140 and support at 117 from the short-term.
Another one is $Amazon(AMZN.US$ :
from the point ofFundamentalanalysis,Amazon is launching a discount section similar to Temu, whichled it break abovethe strong resistance at 190, andIts market cap surpassed $2 trillion for the first time. Technically, it's broken the upper edge of a continuation triangle, signaling a new uptrend.my short-term target is 200.
the last one is $Tesla(TSLA.US$ :
Despite nobignews, some funds are returning to the electric vehicle sector. The current price is nearing the upper edge of a previouschipscluster. If it can break through withhighvolume, we’ll see a head and shoulders bottom formation, starting a new upward trend. The first target is 205, with the second target at 230.
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