Market Clubhouse Morning Memo - June 12th, 2023 (Trade Strategy For SPY, QQQ, TSLA, NVDA, AAPL, And CVNA)
Portfolio Pulse from RIPS
Market Clubhouse Morning Memo discusses price levels for SPY, QQQ, TSLA, NVDA, AAPL, and CVNA, with potential breakouts or reversals. The week ahead is packed with significant economic events, including the CPI release and FOMC announcement.
June 12, 2023 | 1:42 pm
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NEUTRAL IMPACT
AAPL is trading slightly above the key level of 181.25. If it holds, a move up to 182.27 is expected. If it can't maintain the support level, a bearish test of 180.60 is anticipated.
The key level of 181.25 is important for AAPL's short-term price direction. If it holds, bulls may push the price higher, while if it can't maintain the support level, bears may take control. The upcoming economic events, such as the CPI release and FOMC announcement, may cause volatility and impact the stock's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
CVNA is holding at the 18.46 support level. If it holds, a rise to 20.22 is expected. If it can't hold during the regular session, a bearish drop towards 16.66 is anticipated.
The support level of 18.46 is crucial for CVNA's short-term price direction. If it holds, bulls may push the price higher, while if it can't hold during the regular session, bears may take control. The upcoming economic events, such as the CPI release and FOMC announcement, may cause volatility and impact the stock's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
NVDA is trading within the 390.33 and 392.27 channel. If it pushes above 392.27, an upward movement towards 394.89 is expected. If it struggles to maintain above 390.33, a bearish session may push the stock lower, potentially testing 387.85 and 384.49.
NVDA's short-term price direction depends on its position within the 390.33 and 392.27 channel. If it pushes above 392.27, bulls may push the price higher, while if it struggles to maintain above 390.33, bears may take control. The upcoming economic events, such as the CPI release and FOMC announcement, may cause volatility and impact the stock's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
QQQ is striving to maintain the support level of 355.93. If it holds, bulls may target 356.83 and 357.94. If it succumbs, the pivotal support level is 354.24, with a further slide to 353.50.
The support level of 355.93 is crucial for QQQ's short-term price direction. If it holds, bulls may push the price higher, while if it succumbs, bears may take control. The upcoming economic events, such as the CPI release and FOMC announcement, may cause volatility and impact the stock's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SPY is maintaining a support level of 431.04. If it holds, bulls may push towards 431.78 and 432.28. If it falters, bears may push towards 430.05 and potentially 429.28 and 428.62.
The support level of 431.04 is crucial for SPY's short-term price direction. If it holds, bulls may push the price higher, while if it falters, bears may take control. The upcoming economic events, such as the CPI release and FOMC announcement, may cause volatility and impact the stock's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
TSLA is trading above the critical level of 246.16. If it holds, an upward movement to 250.23 and 252.38 is expected. If it weakens, bears may test 243.98 and potentially 241.99.
The critical level of 246.16 is important for TSLA's short-term price direction. If it holds, bulls may push the price higher, while if it weakens, bears may take control. The upcoming economic events, such as the CPI release and FOMC announcement, may cause volatility and impact the stock's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100