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5 Monster Biotech Breakouts, Plus Intel, Texas Instruments, and Amazon
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF CELG
A bit of bore today with the S&P 500 going nowhere. Fine by me, as we can use a couple of days of consolidation. Again, the bullish narrative for stocks remains unchanged.
Biotech IBB ETF is getting closer to that breakout, inching closer to $120.
Celgene is continuing its road to recovering and is once again tracking towards $97. That RSI continue to trend nicely higher as well.
Gilead had a setback, but stopped falling at support around $72.50. Now it likely makes its second attempt at rising to $82.50.
Regeneron is making its second attempt at breaking out and rising above $393.50. It may be on its way to $430.
Nektar looks to be on its way to $70. Maybe $83 and a gap fill? Let’s see if it get to $70 first.
Incyte looks like it close to break out, that could send it back to $80.
Intel is working hard trying to break out, but I think it may be too soon to say shares have. I think it needs to clear $51 before it is out of the woods.
Texas Instruments does look rather strong here. A push to $121 appears to be on the way.
Amazon is still struggling at the upper end of the trading wedge. Still not out of the danger zone yet. Look at that RSI though, lower highs, bearish divergence? Perhaps.
Sorry it was so technical analysis heavy today, but way to hot here in NY and I’m feeling a bit lazy today.
Michael Kramer is the Founder of Mott Capital and the creator of Reading the Markets.
I started learning to invest when I was 16 years old. At 40, I have pieced together a long career on Wall Street, working as an analyst, and a domestic and international equity trader at two multi-billion dollar equity firms.
I started Mott Capital in 2014 to follow a passion and dream of being in control of my career path.
The idea behind Reading the Markets was to help both individual and institutional investors benefit from my experience in the business and my unique approach to dissecting stocks and the markets, which helped me become a great trader.
Reading the Markets is a combination of technical, fundamental, a macro market analysis, trying to piece together the clues the market is sending in its future direction.
Reading the Markets is unique, in that the video does not only serve as a means to deliver the content but to interact, making it a personal learning experience, while also showing the user how I go about finding my research and how you can use the process to do your work.
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Mott Capital Management, LLC 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.
#biotech #celgene #sp500 #nektar #regeneron #intel #ti #amazon #gilead