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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MARCH 29, 2020
STOCKS: TSLA, AMZN, AAPL, NVDA, MU
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN TSLA AND AAPL
READING THE MARKETS PREMIUM CONTENT
$35/MONTH OR $300/YEAR
- Not The Greatest Setup Into End Of Day – Midday 3.27.20
- It May Be A Rough Day – Morning Commentary
- THE VIX SAYS THIS RALLY WON’T LAST
S&P 500 (SPY)
It is likely to be another hectic and volatile week for stocks. The implied volatility levels over the next seven days are around 70.9%, and that means the ETF could rise or fall by approximately 9.8%, placing the ETF in a trading range between $228.55 to $278.30.
The S&P 500 stalled out several times around 2,600 this past week, and I think likely means we are setting up retest the lows this week, and fill the giant gap around 2,230.
Amazon shares may hold steady this week. The stock appears to have formed a symmetrical triangle and be a sign that the stock refills a gap around at $2090.
Apple shares failed at resistance around $257 and could be heading lower towards $234.
Tesla appears to have formed a bullish flag pattern and may finally be heading up to $600. The company should report its first quarter delivery numbers by April 3.
Nvidia has failed at $262 on many occasions and is likely to fill a gap at lower prices around $218.
MU failed several times around $45.50 and is probably now heading lower again towards $35.50.
Have a good 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.