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May 16 – Stock Mentions: Cisco, Micron, Walmart, Intel, and Netflix
Michael Kramer and the clients of Mott Capital own Cisco and Netflix
US Markets
- S&P 500 Futures +9
- 10-Year Rates 2.38%
- Dollar Index 97.54
- Oil $62.50
- Vix 15.88
International Markets
- Japan Nikkei -0.59%
- Shanghai +0.58%
- Hong Kong HSI +0.02%
- South Korea Kospi -1.2%
- Germany DAX +0.67%
- UK FTSE +0.23%
Stock Market
S&P 500 (SPY)
At the moment equities are pointing to a higher opening on May 16 and should that happen the S&P 500 is likely to cross above the downtrend that has been in place since May 6. It would be a positive development for the equity market and put the index on a path to close the gap up to 2,880. The chart below of the SPY ETF gives us a good sense of how the S&P 500 is setting up for the start of the day. Premium Content: The Mood Is Shifting.
Cisco (CSCO)
Cisco is jumping this morning by over 3% after the company reported better than expected quarterly results. The stock faces a resistance level at around $55. If that level is taken out, the stock has an excellent chance to get back to it recent highs.
Micron (MU)
Micron continues to feel the pressure of the trade war, and shares are falling today. It does set up a potential retest of its recent lows around $37.
Netflix (NFLX)
Netflix will continue to try to rebound, and at least for yesterday $341 continues to hold as support. For now, $378 is the upper end of the range. The stock continues its consolidation. However, the RSI is still pointing lower, as of now it is tough to say that the stock is going to rise much higher than $378 at this point.
Walmart (WMT)
Walmart reported better than expected results on the bottom line but missed on revenue. The only negative seems to be that e-commerce growth came in at 37%, which as a bit slower than the 40%+ in prior quarters. There is some fierce resistance around $103, which appears is going to be hard to top, even with today’s results. The stock is trading up around 0.5% as of 7:15 am.
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[youtube-feed feed=7]Intel (INTC)
Intel is trying to emerge from its slump and if it can rise above $46 it could set up a move to around $47.70.
Have a good day.
Mike
Mott Capital Management, LLCÂ 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. may 16
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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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