Market Clubhouse Morning Memo - June 5th, 2023 (Trade Strategy For SPY, AAPL, TSLA, NVDA, MSFT, GOOGL, And AI)
Portfolio Pulse from RIPS
Market Clubhouse Morning Memo discusses trade strategies for SPY, AAPL, TSLA, NVDA, MSFT, GOOGL, and AI. The memo highlights key price levels, potential breakouts or reversals, and the impact of Apple's Worldwide Developers Conference on the market.
June 05, 2023 | 1:46 pm
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NEUTRAL IMPACT
Apple's Worldwide Developers Conference may unveil a mixed reality headset. If successful, the stock could surpass its all-time high of 183.38. If the announcement disappoints, the stock may experience a sell-off with downward targets at 181.25 and 180.60.
The impact on Apple's stock price will depend on the success of the conference and the reception of the mixed reality headset. If the announcement is well-received, the stock could rise; if not, it may experience a sell-off.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
C3.ai is holding the 30.93 support level. If it holds, upside targets are 32.65 and 34.61. If it struggles, downside targets are 29.87 and 28.26.
C3.ai's stock price movement will depend on its ability to hold the 30.93 support level. If it does, the stock could rise; if not, it may experience a decline.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Alphabet is trying to reclaim the 124.20 level. If it shows strength, it could test the upside target of 125.27. If it struggles, downside target is 122.87.
Alphabet's stock price movement will depend on its ability to reclaim the 124.20 level. If it does, the stock could rise; if not, it may experience a decline.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Microsoft is holding on to the support level of 333.46. If it continues to hold, upside targets are 335.96 and 337.80. If 333.46 cracks, downside targets are 331.24 and 328.52.
Microsoft's stock price movement will depend on its ability to hold the support level of 333.46. If it does, the stock could rise; if not, it may experience a decline.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
NVIDIA is struggling to find buyers in the premarket session. If it reclaims the 392.27 level, upside targets are 394.89 and 399.46. If resistance, downside targets are 384.49 and 378.23.
NVIDIA's stock price movement will depend on its ability to find buyers and reclaim the 392.27 level. If it does, the stock could rise; if not, it may experience a decline.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SPY is within the channel with levels of 427.08 and 428.62. If 428.62 becomes support, upside targets are 429.28 and 430.05. If 427.08 breaks down, bear targets are 425.75 and 424.52.
The debt ceiling bill has been signed, reducing market volatility. SPY is within the channel, and its movement will depend on market conditions and the strength of support and resistance levels.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Elon Musk met with China's commerce minister, who pledged support for foreign companies. If TSLA reclaims the 217.78 price point, the next target is 223.86. If 217.78 acts as resistance, downside targets are 211.53 and 209.51.
The meeting between Elon Musk and China's commerce minister could impact Tesla's stock price. If the market perceives the meeting positively, the stock could rise; if not, it may experience a decline.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100