Stocks that rallied last week should move again today.
Netflix (NFLX) gained 18% last week, its biggest gain in over a year. It closed at a price not seen in over two years. Netflix managed through the Hollywood strike.
The door plug incident on an Alaska Airlines flight is still a drag on Boeing (BA) stock. Still, BA stock rallied back to its simple moving average of 200 days before falling. It retested the $205 support level and bounced back.
Two of Ark Invest’s (ARK) holdings, Coinbase (COIN) and Tesla (TSLA) cost the fund nearly $500 million last week. Coinbase shares could bounce back toward $140. Short interest is 9.55%. EV investors who did not give up on Tesla may snap up shares today.
Among the Magnificent 7, Alphabet (GOOG) should continue its uptrend as it develops its Bard AI product. Microsoft (MSFT) announced it would cut 1,900 Activision Blizzard, Xbox, and ZeniMax jobs. This increases its efficiencies, lowers costs, and would please its shareholders. Confidence that Meta Platforms (META) will attract more advertising revenue will send the stock to fresh new highs today.
Risks
The economy is still on shaky ground. Uncertainties might cast doubt on bullish investors. This would increase the risks of a sudden and unexpected market sell-off.
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