by U. S. Zodiac
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THE BIG SEVEN
AAPL
Effective August 5-30, 2024, analysis suggests Apple’s remaining within trading range for most of the month with some potential for a one-day rally to the upside on Tuesday, August 20, followed by a potential for correction beginning Thursday, August 22 and lasting through Monday, August 26, with this final day being the most potent point of the influence. Should a correction occur during this time, a subsequent loss of enthusiasm is likely, keeping share values in a slightly descending trading range through August 30.
AMZN
For the period of August 5-30, 2024, we are inclined to forecast an eventual return to the trend line, with some potential for corrections striking on August 5-10, again on August 26, and then lastly on August 29 and 30.
GOOG
During the August 5-30 time frame, analysis suggests that the focal point is a potential for significant downward pressure on share value beginning August 10 and lasting through August 16, with the most potent point during the influence striking on August 14. Lows could reach the 158 mark.
META
Analysis suggests an overall position of strength for META during the August 5-30 period, however the 492 mark provides major resistance. Any significant challenge to share value within the current trading range will likely present itself during August 13 through August 20 during which time recent gains will likely be put to the test with a drop to 447 being possible. A final 2-day influence that could result in another, but mild, correction hits August 28-29.
MSFT
The August 5-30 time frame is likely to see MSFT struggle to rise above the 450 level. Periodic breakdowns are likely during August 5 through August 10. Significant pressure to the downside comes at month’s end, with the influence in effect from August 25 through August 30, with the most potent point of the influence striking August 27-28. During this month’s end influence a breakdown towards 389 is likely, and a test at the 367 mark not being out of the realm of possibility.
NFLX
A positive influence upon NFLX on August 8 should support a move above 616, but resistance is at 631. It is likely the share will remain in a trading range until August 25-30 when NFLX will be under an influence exerting pressure to the downside with maximum influence August 25-27, and August 27 being potentially the most dire day within that maximum influence. The 586 mark could be tested.
TSLA
Analysis suggests a steady advance to the resistance point of 241 through the period of August 5-30. August 5-7 could see a small rally to the upside. August 13 could see a small correction. Events occurring August 22 and again on August 26 will likely lead to TSLA finishing the month strong, perhaps north of 241.