Stock & Index Forecasts for 2024
Hello again everyone!
I did my SPY post for 2024 and I thought to myself, you know what would b e really cool and interesting to post and then revisit towards year end? Annual projections on the top traded stocks and indices. I threw BTCUSD in as well because, why not!
Now I have some models on some of these, but in the interest of saving time and energy, the projections I will show here have been autofitted by R. There is not personal correction (I usually correct my stuff manually to ensure consistency). So take it all with a grain of salt, but it should be relatively insightful for the future. So let’s get into the annual outlooks of these stocks!
Let’s kick it off with the Cult Classic, TSLA:
TSLA has a mess of a trading history, so the results are pretty wide. This is pulling from the previous 8 years of trading data on TSLA. Model order is 0,1,0 .
📈The Annual High for TSLA: 📈
80% Confidence it will be below $381.08
95% Confidence it will be below $451.27
📉The Annual Lows for TSLA:📉
80% Confidence it will be above $115.88
95% Confidence it will be above 45.69
Thoughts: Really wide ranges and also a really big potential for this to get some serious gains or losses on the year based on its trading history. As I suspect the bullish thesis will likely continue ABSENT any major fundamental catalysts that dictate to the contrary, we have a great chance of seeing TSLA work its way towards that 381.08 target.
Now the little Piggy McPiggerson NVDA:
Based on the current trend over the past 8 years of trading history, most likely price for NVDA in 2024 is 562.85.
📈The Annual High for NVDA: 📈
80% Confidence it will be below $676.63
95% Confidence it will be below $736.86
📉The Annual Lows for NVDA: 📉
80% Confidence it will be above $449.
95% Confidence it will be above $388
Thoughts: If you are bullish on NVDA, ideal entry price is anything as close to 449 as we can get. If you are bearish, see if we can make It to that 562 and try to wait to see how close it can get to 600s. Personally, I am neutral and not an NVDA investor, so no major thoughts.
META
Based on the current trend over the past 8 years of trading history, most likely price for META in 2024 is 353.96.
📈The Annual High for META: 📈
80% Confidence it will be below $464.89
95% Confidence it will be below $523.62
📉The Annual Lows for META: 📉
80% Confidence it will be above $243.03
95% Confidence it will be above $184.30
Thoughts: Pretty neutral on META. If you are bullish, look for a move back towards 300/290. If bearish, it seems like now is your time to get in maybe. Do your own due diligence for this trainwreck of a stock :p.
MSFT
Based on the current trend over the past 8 years of trading history, most likely price for MSFT in 2024 is 421.31.
📈The Annual High for MSFT: 📈
80% Confidence it will be below $489.41
95% Confidence it will be below $525.46
📉The Annual Lows for MSFT:📉
80% Confidence it will be above $353.21
95% Confidence it will be above $317.15
Thoughts: I was bearish on this but meh now. I own MSFT shares but not a lot, I am looking for the opportunity to add. Looking for it to come as close to 353.21 as possible. Plan is to add at 360 range, then 350 range. If we break below the 80% confidence at 353.21, no bueno.
GOOG:
Really boring stock but its included in like every major index as a leader so here you go:
R seems to agree that GOOG is boring, with a stagnant projection for 2024.
Based on the current trend over the past 8 years of trading history, most likely price for GOOG in 2024 is 140.93.
📈The Annual High for GOOG: 📈
80% Confidence it will be below $176.10
95% Confidence it will be below $194.72
📉The Annual Lows for GOOG:📉
80% Confidence it will be above $105.76
95% Confidence it will be above $87.14
Thoughts: No thoughts on this one. Not a GOOG investor and not a stock I trade or follow fundamentals for. Do your due diligence as always!
BA
Of course, we need to include the best stock of all time, BA! I did a bit of manual adjustment for BA because the history is erratic and I care very much about these forecasts as a BA investor myself.
Based on the current trend over the past 10 years of trading history, most likely price for BA in 2024 is 260.66.
📉The Annual High for BA: 📉
80% Confidence it will be below $381.93
95% Confidence it will be below $446.12
📉The Annual Lows for BA:📉
80% Confidence it will be above $139.39
95% Confidence it will be above $75.20
Thoughts: I am looking for this to retrace even 200 and buy buy BUY!! And those are about all of my thoughts on BA :p. 🚀 🚀 🚀 🚀 🚀 🚀 🚀
NIFTY
Based on the current trend over the past 10 years of trading history, most likely price for NFTY in 2024 is 23,624.65.
📈The Annual High for NIFTY: 📈
80% Confidence it will be below $ 26444.4
95% Confidence it will be below $27937.08
📉The Annual Lows for NIFTY:📉
80% Confidence it will be above $20804.9
95% Confidence it will be above $19312.21
Thoughts: I have never traded or tracked this, so no opinion here. Do your due diligence on this one!
QQQ
Based on the current trend over the past 10 years of trading history, most likely price for QQQ in 2024 is 450.85.
📈The Annual High for QQQ: 📈
80% Confidence it will be below $ 523.76
95% Confidence it will be below $562.36
📉The Annual Lows for QQQ:📉
80% Confidence it will be above $377.94
95% Confidence it will be above $339.34
Thoughts: I am generally bullish on tech, but I suspect it needs a bit of a deeper correction into the beginning of 2024.
IWM
Based on the current trend over the past 10 years of trading history, most likely price for IWM in 2024 is 200.71.
📈The Annual High for IWM: 📈
80% Confidence it will be below $ 251.45
95% Confidence it will be below $278.31
📉The Annual Lows for IWM:📉
80% Confidence it will be above $149.97
95% Confidence it will be above $123.11
Thoughts: I am bullish on IWM and small caps. I think there is great potential for them to lead the next bull run owning to their underperformance since inception. I think it is an index worth paying attention to in 2024.
XBI
Based on the current trend over the past 10 years of trading history, most likely price for XBI in 2024 is 89.37.
📈The Annual High for XBI: 📈
80% Confidence it will be below $127.40
95% Confidence it will be below $147.54
📉The Annual Lows for XBI:📉
80% Confidence it will be above $51.33
95% Confidence it will be above $31.20
Thoughts: Healthcare and biotech are perpetual underperformers. Perhaps next year we will see the season of healthcare, though there is no catalyst for such an event. Neutral on all Healthcare and Biotech.
BTCUSD
Based on the current trend over the past 10 years of trading history, most likely price for BTC in 2024 is 42305.88.
📈The Annual High for BTC: 📈
80% Confidence it will be below $60,744.85
95% Confidence it will be below $70,505.85
📉The Annual Lows for BTC:📉
80% Confidence it will be above $23,866.9
95% Confidence it will be above $14,105.90
Thoughts: I am still holding ADA. Generally neutral to bullish on Crypto. There is a lot of potential upside for BTC this year, since the 80% confidence is at 60 K. If we continue with a bull thesis, I think there is a good chance we work towards that 80% confidence level target.
Conclusion
Those are the projections and my thoughts.
Hope you enjoyed and find the information useful!
Safe trades and a happy new year, may your 2024 be green and prosperous!
💰💰💰💰💰💰💰
I did my SPY post for 2024 and I thought to myself, you know what would b e really cool and interesting to post and then revisit towards year end? Annual projections on the top traded stocks and indices. I threw BTCUSD in as well because, why not!
Now I have some models on some of these, but in the interest of saving time and energy, the projections I will show here have been autofitted by R. There is not personal correction (I usually correct my stuff manually to ensure consistency). So take it all with a grain of salt, but it should be relatively insightful for the future. So let’s get into the annual outlooks of these stocks!
Let’s kick it off with the Cult Classic, TSLA:
TSLA has a mess of a trading history, so the results are pretty wide. This is pulling from the previous 8 years of trading data on TSLA. Model order is 0,1,0 .
📈The Annual High for TSLA: 📈
80% Confidence it will be below $381.08
95% Confidence it will be below $451.27
📉The Annual Lows for TSLA:📉
80% Confidence it will be above $115.88
95% Confidence it will be above 45.69
Thoughts: Really wide ranges and also a really big potential for this to get some serious gains or losses on the year based on its trading history. As I suspect the bullish thesis will likely continue ABSENT any major fundamental catalysts that dictate to the contrary, we have a great chance of seeing TSLA work its way towards that 381.08 target.
Now the little Piggy McPiggerson NVDA:
Based on the current trend over the past 8 years of trading history, most likely price for NVDA in 2024 is 562.85.
📈The Annual High for NVDA: 📈
80% Confidence it will be below $676.63
95% Confidence it will be below $736.86
📉The Annual Lows for NVDA: 📉
80% Confidence it will be above $449.
95% Confidence it will be above $388
Thoughts: If you are bullish on NVDA, ideal entry price is anything as close to 449 as we can get. If you are bearish, see if we can make It to that 562 and try to wait to see how close it can get to 600s. Personally, I am neutral and not an NVDA investor, so no major thoughts.
META
Based on the current trend over the past 8 years of trading history, most likely price for META in 2024 is 353.96.
📈The Annual High for META: 📈
80% Confidence it will be below $464.89
95% Confidence it will be below $523.62
📉The Annual Lows for META: 📉
80% Confidence it will be above $243.03
95% Confidence it will be above $184.30
Thoughts: Pretty neutral on META. If you are bullish, look for a move back towards 300/290. If bearish, it seems like now is your time to get in maybe. Do your own due diligence for this trainwreck of a stock :p.
MSFT
Based on the current trend over the past 8 years of trading history, most likely price for MSFT in 2024 is 421.31.
📈The Annual High for MSFT: 📈
80% Confidence it will be below $489.41
95% Confidence it will be below $525.46
📉The Annual Lows for MSFT:📉
80% Confidence it will be above $353.21
95% Confidence it will be above $317.15
Thoughts: I was bearish on this but meh now. I own MSFT shares but not a lot, I am looking for the opportunity to add. Looking for it to come as close to 353.21 as possible. Plan is to add at 360 range, then 350 range. If we break below the 80% confidence at 353.21, no bueno.
GOOG:
Really boring stock but its included in like every major index as a leader so here you go:
R seems to agree that GOOG is boring, with a stagnant projection for 2024.
Based on the current trend over the past 8 years of trading history, most likely price for GOOG in 2024 is 140.93.
📈The Annual High for GOOG: 📈
80% Confidence it will be below $176.10
95% Confidence it will be below $194.72
📉The Annual Lows for GOOG:📉
80% Confidence it will be above $105.76
95% Confidence it will be above $87.14
Thoughts: No thoughts on this one. Not a GOOG investor and not a stock I trade or follow fundamentals for. Do your due diligence as always!
BA
Of course, we need to include the best stock of all time, BA! I did a bit of manual adjustment for BA because the history is erratic and I care very much about these forecasts as a BA investor myself.
Based on the current trend over the past 10 years of trading history, most likely price for BA in 2024 is 260.66.
📉The Annual High for BA: 📉
80% Confidence it will be below $381.93
95% Confidence it will be below $446.12
📉The Annual Lows for BA:📉
80% Confidence it will be above $139.39
95% Confidence it will be above $75.20
Thoughts: I am looking for this to retrace even 200 and buy buy BUY!! And those are about all of my thoughts on BA :p. 🚀 🚀 🚀 🚀 🚀 🚀 🚀
NIFTY
Based on the current trend over the past 10 years of trading history, most likely price for NFTY in 2024 is 23,624.65.
📈The Annual High for NIFTY: 📈
80% Confidence it will be below $ 26444.4
95% Confidence it will be below $27937.08
📉The Annual Lows for NIFTY:📉
80% Confidence it will be above $20804.9
95% Confidence it will be above $19312.21
Thoughts: I have never traded or tracked this, so no opinion here. Do your due diligence on this one!
QQQ
Based on the current trend over the past 10 years of trading history, most likely price for QQQ in 2024 is 450.85.
📈The Annual High for QQQ: 📈
80% Confidence it will be below $ 523.76
95% Confidence it will be below $562.36
📉The Annual Lows for QQQ:📉
80% Confidence it will be above $377.94
95% Confidence it will be above $339.34
Thoughts: I am generally bullish on tech, but I suspect it needs a bit of a deeper correction into the beginning of 2024.
IWM
Based on the current trend over the past 10 years of trading history, most likely price for IWM in 2024 is 200.71.
📈The Annual High for IWM: 📈
80% Confidence it will be below $ 251.45
95% Confidence it will be below $278.31
📉The Annual Lows for IWM:📉
80% Confidence it will be above $149.97
95% Confidence it will be above $123.11
Thoughts: I am bullish on IWM and small caps. I think there is great potential for them to lead the next bull run owning to their underperformance since inception. I think it is an index worth paying attention to in 2024.
XBI
Based on the current trend over the past 10 years of trading history, most likely price for XBI in 2024 is 89.37.
📈The Annual High for XBI: 📈
80% Confidence it will be below $127.40
95% Confidence it will be below $147.54
📉The Annual Lows for XBI:📉
80% Confidence it will be above $51.33
95% Confidence it will be above $31.20
Thoughts: Healthcare and biotech are perpetual underperformers. Perhaps next year we will see the season of healthcare, though there is no catalyst for such an event. Neutral on all Healthcare and Biotech.
BTCUSD
Based on the current trend over the past 10 years of trading history, most likely price for BTC in 2024 is 42305.88.
📈The Annual High for BTC: 📈
80% Confidence it will be below $60,744.85
95% Confidence it will be below $70,505.85
📉The Annual Lows for BTC:📉
80% Confidence it will be above $23,866.9
95% Confidence it will be above $14,105.90
Thoughts: I am still holding ADA. Generally neutral to bullish on Crypto. There is a lot of potential upside for BTC this year, since the 80% confidence is at 60 K. If we continue with a bull thesis, I think there is a good chance we work towards that 80% confidence level target.
Conclusion
Those are the projections and my thoughts.
Hope you enjoyed and find the information useful!
Safe trades and a happy new year, may your 2024 be green and prosperous!
💰💰💰💰💰💰💰
Premium indicators and content have launched! Get access at: www.patreon.com/steversteves
NVDA:
NVDA has taken out its most likely target on the year, next up for NVSA is 604.
BTC:
BTC has taken out its most likely target. As of now, it looks like BTC could be headed back to 3600 range.
In the final stretches:
MSFT and QQQ are in the fina stretches of their most likely targets of 421 and 450 respectively.
The next target MSFT will have to content with is 403.99. IF we can break it and hold, we are looking at a move to the target.
Special mention BA
It actually reversed down and missed its most likely target. Dropped below 200 which is where I was looking to get long. Went a bit lower but it shot back up.
Worth taking a look at if you are interested in BA!