STOCK MENTIONS: NFLX, DIS, NVDA, ROKU, FB
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NFLX AND DIS
Reading The Markets Premium Content From November 22
- The Message Is Loud And Clear, The Market Wants To Go Higher
- How I Use The RSI To Find Turning Points In Stocks
- 7 Stocks On The Move On November 22
- Morning Commentary 11.22.19
Netflix had a strong week, and according to an article in Bloomberg, data suggests that Netflix isn’t seeing users jump to other streaming providers, and thus far has not been hurt by the launching of Disney+. Shocking! I have only been saying that would not happen for months. It makes you wonder what all of that worrying was about? I think the stock will continue to move higher in the weeks ahead with the next barrier coming at $320.
Disney started popping its head up from a mild downtrend, and the pattern suggests the stock continues to rise, perhaps as high as $157.50.
Nvidia continues to show signs of a stock that is topping out and is likely to fall. Resistance at $212 has been fierce; meanwhile, the RSI is fading. It is all pointing to a stock heading lower to $198.
Roku continues to fail at resistance at $161, and like Nvidia, Roku’s RSI is also starting to trend lower, signaling the stock is heading lower, back to $135.
Facebook has rising wedges pattern all of its chart and the RSI. I think the stock is setting up for a decline to $191. I also noted some bearish option betting in a Forbes article this week.
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