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December 7, 2019
Stocks: ROKU, NVDA, BAC, BABA, JD
Macro: IWM
MICHAEL KRAMER OWNS IWM JAN $166 CALL
Reading The Markets Premium Content
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Stocks had a strong finish to the week, with all the major indexes moving sharply higher.
Russell (IWM)
But the Russell maybe the index that has the most gain for the balance of the year. The index failed at resistance on Friday, around 1,638. However, I do expect the index to continue to climb and push towards 1,710.
Roku (ROKU)
Roku is one stock that didn’t act well to finish the week. The RSI is falling, volume levels are dropping, and momentum seems to be fading. Perhaps that means we head below $135.
Nvidia (NVDA)
Nvidia continues to act poorly, and the RSI is still declining. The stock failed at resistance at $212, and I think it is heading lower towards $198.
Bank of America (BAC)
Bank of America’s chart isn’t an easy one to read, but the RSI is now beginning to change trend and move lower. Meanwhile, the pattern seems bullish. I’m thinking that the stock may end up advancing to $34.50.
Alibaba (BABA)
Alibaba fell nearly to the target I had noted last week at $188, to around $189. Now I think the stock is likely heading higher towards $210.
JD (JD)
Meanwhile, JD.com continues to show signs of stock that is likely going higher as well towards $35.
Have a good one.
-Mike
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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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