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September 23 – Stock mentions: SPY, ACAD, ROKU, SHOP, AAPL, EXAS
Michael Kramer and the clients of Mott Capital own ACAD and AAPL
US Markets
- S&P 500 Futures -5 points
- US 10-Year Treasury 1.69%
- VIX 15.35
- Oil $57.80
- Dollar 98.69
International Markets
- Japan Nikkei +0.16%
- KOSPI +0.01%
- HK HSI -0.81%
- Shanghai -0.98%
- UK FTSE -0.44%
- German Dax -1.08%
MACROÂ
Germany saw its Manufacturing FLASH PMI fall to 41.4 lower than an expectation of 44.
The US Manufacturing FLASH PMI comes at 9:45 AM; estimates are for 50.1
S&P 500 (SPY)
S&P 500 e-minis futures fell hard around 3 am when the German PMI came out. The futures have been recovering some since, and are currently hovering around 2,990. The region around 2,980 has acted a reasonable level of support since the beginning of the month. Premium content: Micron Will Be The Key To The Week Of September 22 – Get the first two weeks for free.
STOCKS
Acadia (ACAD)
Acadia is rising this morning after Cantor Fitergerald raised its price target on the stock to $56 from $49. The stock needs to get over $42 for a breakout.
Roku (ROKU)
Roku will remain in focus today, and at the moment the stock has stabilized around $109. Support will continue to be about $100, with resistance at $122.
Shopify (SHOP)
Shopify is trading down to $315, and one should be careful. If the deal price breaks, the stock could see plenty of downward pressure pushing shares towards $285.
Apple (AAPL)
Apple will need to hold support at $217.50 to avoid a decline to $209.50.
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Exact Sciences (EXAS)
Exact Sciences is rising today, after Cologuard gains FDA approval for ages 45 to 49. The stock is increasing by 6% in the pre-market but still faces fierce resistance around $115.
Have a great day!
-Mike
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Charts used with the permission of Bloomberg Finance L.P. 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.
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