Here is a list of some more stock market predictions for the week of August 12.
Apple (AAPL)
It feels like every time Apple (NASDAQ:AAPL)’s stock gets going some new tariff worries pop up that crash the stock. If there is a good piece of news, it is each time the stock crashes lower; the new low is higher than the previous one. We should also remember that new iPhone cycle will allow the company to reprice their phones and hopefully adjust for any potential tariffs on the way, and can allow AAPL to push past $209 again.
AMD (AMD)
AMD broke above $34.50 on Friday only to close below it by the end of the day. Now there is a giant gap that needs to be filled at $29.40.
UBER (UBER)
Uber (NYSE:UBER) fell sharply following its results but managed to close well off the lows. I still think this one heads lower towards $36.
Bank Of America (BAC)
Bank of America (NYSE:BAC) is looking weak as are most bank stocks. I noted mid-week I saw a lot of put buying on the stock. I’m thinking $25.75 is possible, maybe not this week, but in the weeks ahead.
Salesforce (CRM)
Salesforce.com (NYSE:CRM) has been performing poorly. I had noted in a previous article on July 30, the stock looked very weak, along with some bearish options bets. Now the stock is testing resistance at $144. The stock needs to hold above $138 or could see a decline to $115.
However, the bad news is that the open interest for the September 20 $145 calls saw their open levels rise by over 16,600 contracts on August 5. The bad news is that calls looked as if they were sold, for $7.10 per contract. It would at the very least suggest someone is betting the stock stays below $152 by the expiration date.