Market Clubhouse Morning Memo - May 30th, 2023 (Trade Strategy For SPY, NVDA, TSLA, MSFT, And META)
Portfolio Pulse from RIPS
Market Clubhouse Morning Memo focuses on SPY, NVDA, TSLA, MSFT, and META, providing price levels based on a proprietary formula. The analysis includes potential breakouts or reversals for each stock, with upside and downside targets.
May 30, 2023 | 1:28 pm
News sentiment analysis
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POSITIVE IMPACT
Meta is up in premarket, with 267.54 as support. Upside target is 273.68, while downside target is 263.19.
Meta's premarket surge indicates strong momentum, with potential for further upside if 267.54 holds as support. If not, the downside target could be tested.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
NVIDIA is up over 15 points in the premarket session. Upside targets are 410, 415, and 420, while downside targets are 402.12 and 399.46.
NVIDIA's premarket surge indicates strong momentum, with potential for all-time highs. However, if AI sentiment shifts to overbought, downside targets could be tested.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
SPY is up in the premarket session due to a debt ceiling agreement. Upside targets are 423.89 and 424.52, while downside targets are 421.15 and 420.69.
The debt ceiling agreement is a positive development for the market, which could lead to an increase in the SPY ETF. The upside targets are based on the current premarket session, while the downside targets are based on potential strong sellers.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tesla shows strength in premarket with CEO Musk visiting China. Upside target is 202.91, with further potential of 206.09. Downside targets are 198.62.
Tesla's premarket strength is driven by CEO Musk's visit to China. If the stock holds 200.91 as support, upside targets are possible. If not, downside targets could be tested.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Microsoft faces overhead resistance at 337.80. If pierced, upside target is 340.36. If not, downside target is 333.46.
Microsoft's stock is currently facing resistance at 337.80. If this level is broken, the upside target is possible. If not, the downside target could be tested.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100