NMS Investment Research

  The S&P 500 managed to break above the key resistance level at 4,200, despite a Fitch warning on Wednesday of a U.S. rating downgrade as debt-limit talks stalled. The market, however, has high hopes that an agreement will be reached in time before the June 1 deadline and history doesn't repeat itself. In 2011, the S&P downgraded its rating of long-term U.S. government debt from AAA to AA+, following a prolonged battle over the debt ceiling and passage of a fiscal package the rating firm deemed insufficient, per Barrons. This note   contained herein is not and should not be construed as a recommendation to buy or sell.  Click here to view the latest update!

  Apple stock pulled back from the key resistance level at $175.13 on Monday after being downgraded by an analyst at Loop Capital on concerns that Apple could miss Wall Street estimates for the June quarter. Morgan Stanley 's Erik Woodring told CNBC in an interview, in response to the downgrade, " It's just too early to call a quarter . It's May 22. There are still a month and eight days until the end of the quarter." The stock is consolidating near the $173 level and may be about to move back up to retest the trendline resistance ~ $180. Last week, OpenAI launched an iPhone app for the widely popular ChatGPT on the App Store. According to Business Insider, Apple could collect as much as $360 million a year in fees from the OpenAI's app. All eyes are on the World Wide Developers Conference on June 5, where Apple typically introduces new software for their products and it's possible that the company could bake more AI into those updates, per CNET. This

  The SET index sold off 2.98% this week, after the May 14 Thai general elections, as foreign investors took their money out of the Thai financial market. Investors don't like uncertainties and there are plenty of them, like now. It could have been worse if the Thailand Q1 2023 GDP, which came in at 2.7% y-o-y on Tuesday, was below the 2.3% estimate. Keep an eye on the key technical level/trendline support at ~ 1,507 and Thai baht (USD/THB). A breakdown will send the SET index to retest bear market territory at 1,482.01. Beware that the 600-day EMA may be about to cross over the 100-day EMA, meaning more selling could be ahead. This note   contained herein is not and should not be construed as a recommendation to buy or sell.   Click here to view the latest update!

  Tesla stock ran up 1.84% on Friday , to close at $180.14 , despite that the company is offering discounts of more than $1,300 on some Model 3 cars in its U.S. inventory, following even heavier discounts in Europe, per Reuters. The U.S. Model 3 rear-wheel drive will now cost as low as $37k+ after the federal tax credit. The deep discounts came on the heels of leaks that Tesla may launch the new redesigned Model 3, code name Highland, in Q4 this year. Tesla stock has gained bullish momentum since its May 16 annual shareholder's meeting and is now approaching an area of resistances near the $182.33 level. The stock could pull back to $165.80 or break out to retest its 200-day EMA at ~ $ 198.40. It could all depend on the May sales of China-made Tesla EVs, which are due in about two weeks. This note   contained herein is not and should not be construed as a recommendation to buy or sell.   Click here to view the latest update!