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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June 25, 2019 – Stock Mentions AGN, MSFT, SNAP, TSLA, BA
Michael Kramer and the clients of Mott Capital own MSFT and TSLA
- S&P 500 Futures – 3 points
- US 10-Year 2%
- Dollar Index 96.02
- VIX 15.36
- Oil $57.67
- China Shanghai -0.87%
- Hong Kong HSI -1.15%
- Japan Nikkei -0.43%
- South Korea KOSPI -0.22%
- Germany DAX +0.01%
- UK FTSE -0.11%
S&P 500 (SPY)
Stocks are pointing to a slightly lower opening for June 25. The 2,940 level offers a solid level of support for the index currently, with the next big level around 2,915. So for now, it would seem like the index has the potential to continue it slow drift lower.
Stocks To Watch
AGN is surging on June 25 after Abbvie agreed to buy AGN for $63 billion. It is the second deal in two weeks and is likely to continue to give the health care and biotech sector a bid.
MSFT had its price target raised at Jefferies to $90 from $80, with an underperform rating, but sees MSFT as significantly overvalued. I still think the stock heads to $141.
I continue to think that SNAP heads towards $16.
Opco believes that TSLA delivery results will come in better than feared when the company reports next week. The stock is quickly approaching the downtrend that has plagued TSLA since December. The next few days will be telling.
BA looks like it may have bullish pennant forming and BA could be on its way to $400.
Have a good one
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. June 25