Market Clubhouse Morning Memo - May 19th, 2023 (Trade Strategy For SPY, TSLA, NVDA, GOOGL, MSFT, and META)
Portfolio Pulse from RIPS
Market Clubhouse recommends monitoring SPY, TSLA, NVDA, GOOGL, MSFT, and META for potential breakouts or reversals. The market awaits Jerome Powell's panel with Ben Bernanke today. Monthly Options Expiration (MOPEX) occurs today, which may impact stock prices.
May 19, 2023 | 12:58 pm
News sentiment analysis
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NEUTRAL IMPACT
Meta rallied late in the day due to broader market and AI chatter. Upside targets: 249.96, 252.01. Downside targets: 244.89, 241.73.
Meta's short-term price direction will depend on the broader market sentiment and AI chatter. If the market remains bullish, Meta may continue to rise. If the market turns bearish, Meta may test lower levels.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Microsoft rallied yesterday and is basing out at 316.04 in the premarket session. Upside targets: 320.05, 321.51. Downside targets: 313.61, 311.91.
Microsoft's short-term price direction will depend on the broader market sentiment. If the market remains bullish, Microsoft may continue to rise. If the market turns bearish, Microsoft may test lower levels.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Nvidia showed remarkable strength in yesterday's rally. Upside targets: 319.45, 322.10. Downside targets: 311.80, 307.12.
Nvidia's short-term price direction will depend on the broader market sentiment. If the market remains bullish, Nvidia may continue to rise. If the market turns bearish, Nvidia may test lower levels.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
SPY broke free from previous ranges, recording new highs. Market awaits Jerome Powell's panel. Upside targets: 421.15, 421.98, 422.70. Downside targets: 419.04, 418.17, 417.41, 416.54.
SPY's short-term price direction will depend on the market sentiment after Jerome Powell's panel. If the sentiment remains bullish, the ETF may continue to rise. If the commentary is hawkish, it may test lower levels.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Tesla posted modest gains and rallied alongside the broader market. Upside targets: 179.68, 181.37, 182.53. Downside targets: 175.16, 174.08, 172.16.
Tesla's short-term price direction will depend on the broader market sentiment. If the market remains bullish, Tesla may continue to rise. If the market turns bearish, Tesla may test lower levels.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100