Market Clubhouse Morning Memo - June 28th, 2023 (Trade Strategy For SPY, QQQ, AAPL, TSLA, NVDA, And META)
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The Market Clubhouse Morning Memo discusses the trade strategy for SPY, QQQ, AAPL, TSLA, NVDA, and META. The memo suggests that Jerome Powell's panel appearance could introduce volatility into the markets. The memo provides detailed analysis for each stock, including potential price levels and targets for both bullish and bearish scenarios.
June 28, 2023 | 2:46 pm
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NEGATIVE IMPACT
NVDA faced a downturn due to potential export restrictions to China. If the bears continue to dominate and 402.12 fails to hold as support, a strength test at 399.46 is likely. If there's substantial selling, the ultimate bear target is 394.89.
The analysis suggests that the price of NVDA could go down due to potential export restrictions to China. This is likely to introduce volatility into the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
AAPL is positioned within a defined channel of 187.50 and 188.05. If Jerome Powell's remarks are perceived as dovish, AAPL could rally. If not well-received, AAPL might break below 187.50.
The analysis suggests that the price of AAPL could either go up or down depending on how Jerome Powell's remarks are perceived. This is likely to introduce volatility into the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
META is positioned between a channel of 284.18 and 286.94. If META demonstrates strength and stays above 286.94, the upside targets are 288.87 and 291.18. If META doesn't display significant strength, 284.18 could be breached on the downside.
The analysis suggests that the price of META could either go up or down depending on whether it demonstrates strength and stays above 286.94. This is likely to introduce volatility into the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
QQQ is trading under a vital support level of 363.23. If this level is not reclaimed, the bears are likely to target lower levels. If the Q's recover the 363.23 support level, bullish targets are 364.65 and 365.59.
The analysis suggests that the price of QQQ could either go up or down depending on whether it reclaims the support level of 363.23. This is likely to introduce volatility into the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SPY showed a noteworthy rally yesterday, securing a crucial support level at 435.59. If the price stays above this level, it could pave the way for higher levels. However, if trading remains weak and stays below 435.59, the price could be pushed down.
The analysis suggests that the price of SPY could either go up or down depending on whether it stays above or below the crucial support level of 435.59. This is likely to introduce volatility into the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
TSLA executed a reasonable rally and continues to trend upward. If TSLA can surpass 252.38 and maintain this level, the trading should aim for 254.28. If TSLA fails to establish 252.38 as support and drops below 250.23, the bears may aim for lower levels.
The analysis suggests that the price of TSLA could either go up or down depending on whether it can surpass and maintain the level of 252.38. This is likely to introduce volatility into the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100