Market Clubhouse Morning Memo - June 20th, 2023 (Trade Strategy For SPY, QQQ, AAPL, TSLA, MSFT, NFLX, META, And NVDA)
Portfolio Pulse from RIPS
Market Clubhouse Morning Memo discusses trade strategies for SPY, QQQ, AAPL, TSLA, MSFT, NFLX, META, and NVDA. The analysis is based on a proprietary formula that takes into account price, volume, and options flow. The memo suggests monitoring these stocks for potential breakouts or reversals and adjusting tactics based on market conditions.
June 20, 2023 | 2:27 pm
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NEUTRAL IMPACT
AAPL is preserving support at the pivotal level of 184.09. If this level persists as support for today, the target is 184.59 to the upside, with a potential return to 184.96.
The analysis suggests that if the support level at 184.09 holds, there's potential for an upside target of 184.59. However, the market's pulse and other factors may influence the stock's movement, making it difficult to predict the short-term impact with certainty.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
META is currently well-positioned for a play. As long as 279.15 holds as support, the stock is expected to return to 280.96, with the bulls ultimately targeting 284.18.
The analysis suggests that if the support level at 279.15 holds, there's potential for an upside target of 280.96. However, the market's pulse and other factors may influence the stock's movement, making it difficult to predict the short-term impact with certainty.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
MSFT has been attracting significant investors as a safe haven in the tech space. As long as 340.36 holds as support, the stock is poised for a promising play today, with bullish targets at 343.68 and 347.85.
The analysis suggests that if the support level at 340.36 holds, there's potential for bullish targets of 343.68 and 347.85. However, the market's pulse and other factors may influence the stock's movement, making it difficult to predict the short-term impact with certainty.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
NFLX experienced a substantial sell-off during last week's Friday session. For the bulls, the aim is for the stock to return to 432.51 on the upside, with a potential higher target of 437.35.
The analysis suggests that if the stock recovers from the sell-off, there's potential for an upside target of 432.51. However, the market's pulse and other factors may influence the stock's movement, making it difficult to predict the short-term impact with certainty.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
NVDA remains in fluctuation between two key levels in Tuesday's premarket trade. For the bulls, the aim is for 425.92 to hold as support, with an upside target of 432.36.
The analysis suggests that if the support level at 425.92 holds, there's potential for an upside target of 432.36. However, the market's pulse and other factors may influence the stock's movement, making it difficult to predict the short-term impact with certainty.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
QQQ is oscillating between the channel of 365.59 and 366.69. If 366.69 serves as support, the target for today is 369.39, with an ultimate bullish target of 371.96.
The analysis suggests that if the support level at 366.69 holds, there's potential for an upside target of 369.39. However, the market's pulse and other factors may influence the stock's movement, making it difficult to predict the short-term impact with certainty.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SPY is maintaining a position above the crucial support level at 437.92. If it continues to serve as support, there's potential for a gap-fill play to the upside with targets at 438.78 and 439.66.
The analysis suggests that if the support level at 437.92 holds, there's potential for a gap-fill play to the upside. However, the market's pulse and other factors may influence the stock's movement, making it difficult to predict the short-term impact with certainty.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
TSLA demonstrated significant strength in Tuesday's premarket session. As long as 257.56 remains as the lower band of support, the stock is expected to return to 262.68 to the upside.
The analysis suggests that if the support level at 257.56 holds, there's potential for an upside target of 262.68. However, the market's pulse and other factors may influence the stock's movement, making it difficult to predict the short-term impact with certainty.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100