Subscribe to receive this FREE daily commentary directly in your email
NOVEMBER 9
STOCK MARKET PREDICTIONS FOR THE WEEK OF NOVEMBER 12
STOCK MENTIONS: AMD, BIDU MSFT, TWTR, KHC, TTD, TWLO, UBER
MACRO MENTIONS: SPY, IWM, OIL
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN MSFT
Reading the Market Premium Content Found on Seeking Alpha
- Stocks Are Having A Quiet End To Week
- PayPal Stock May See A Rebound
- No Reason Why Stocks Can’t Continue To Rally Until End Of 2019
- STOCKS ARE RIPPING HIGHER – 3150 May Be The Next Major Resistance Zone
- Micron Is Breaking Out
MACRO
Stocks had a solid showing on Friday afternoon, taking what had been a dull day, and making a late-day surge. Friday afternoon trading can be very telling as to how the market is feeling. There was a time, a very long time ago, where Friday’s were dreaded, as nobody wanted to be long going into the weekend. During periods of uncertainty, this is very true. Bidding stocks up into a Friday close is a sign of confidence and would suggest to me the market’s recent rise isn’t over.
S&P 500 (SPY)
The chart shows the creation of a rising channel, and if that pattern holds, it would indicate to me that we should see the S&P 500 push towards 3,110 this week. But ultimately, I believe, the next significant level of resistance for the S&P 500 will come around 3,150.
Russell 2000 (IWM)
The Russell 2000 appears to be getting ready for big push over 1,600. We can see the strong channel it is in, and the consolidation we are currently witnessing.
Oil
Oil is approaching a short-term break out that could send it back to $61.50.
STOCKS
AMD (AMD)
I have backed off covering AMD, as I continue to lick my wounds from the earnings beatdown I took thinking the stock would fall. Stupid me. It happens, so we pick ourselves up and move forward. Anyway, the shares look overbought here on the daily RSI.
Additionally, the $36.25 region may prove to be a challenging level of resistance that dates back to the year 2006. If the stock can manage to break out, perhaps, it goes to $42. I don’t think the time is now, and the shares fall back to around $34.64.
Microsoft (MSFT)
Microsoft has been consolidating in the $144 range, and now the stock appears to be breaking out and maybe making its move to $153.
Twitter (TWTR)
I have been getting asked a lot about Twitter, and I’m not sure where this goes next, to be honest. The chart looks completely broken, and there is a robust level of resistance $30.20, which limits the upside. Unfortunately, i think it drops to $27.20.
Baidu (BIDU)
Baidu is a stock that recently broke a very long-term downtrend. Perhaps the stock fills the gap back o $151.
Unlock Deeper Insights with Exclusive Member-Only Video Content on The Market Chronicles YouTube Channel – Just $34.99/Month
[youtube-feed feed=7]Twilio (TWLO)
Twilio looks like a mess, and I can’t emphasize enough the importance of support at $89. If that breaks, the stock can quickly fall to $73.
Kraft-Heinz (KHC)
Kraft-Heinz – play it if you dare. The stock is sitting at resistance at $33.30. The RSI says it is overbought and I think the stock heads lower back to $28.50
The Trade Desk (TTD)
TTD doesn’t look good to me. It almost seems as if there is a bear pennant that has formed, and that means $162 and a gap fill seem possible.
Uber (UBER)
Uber is a complete disaster. $28.50 is resistance. How far it can fall is anyone’s guess. It’s that bad. It clearly fooled me.
Have an awesome Saturday
-Mike
Mott Capital Management, LLCÂ is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.
Subscribe to receive this FREE daily commentary directly in your email
This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.