This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.
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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.
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 results.