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Stocks – BYND, TSLA, NFLX, AMZN, TSM, AAPL
Macro – SPY
JPMorgan reports better than expected results – Shares Up
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NETFLIX, TSLA, AND AAPL
S&P 500 (SPY)
Stocks are pointing to a slightly lower opening with the futures down about 3.25 points. The S&P 500 had climbed to as high as 3,296 in the overnight session, only to fall sharply around the time the European markets opened, on no apparent news.
Beyond Meat (BYND)
Beyond Meat continues to surge higher, but it is at a significant level of resistance around $124. It could result in the stock falling back to $108.
Tesla (TSLA)
Tesla is rising yet again and is now trading over $530 on a price target increase at Jefferies to $600 to $400. The stock managed to get through my next level of resistance at $527. At this moment in time, I don’t have a precise level of resistance.
Netflix (NFLX)
Netflix is also trading higher this morning after Goldman raised its price target to $450 from $400. The stock is still struggling at a price of around $340, and that is because it is the last significant level of resistance before $360.
Amazon (AMZN)
Amazon received some positive commentary from JPMorgan today, noting the potential for revenue upside in 2020 and calling the stock a best idea. They have an overweight rating and a $2,200 price target. The stock has consolidated nicely around the $1,900 level and is likely on its way to about $1,960.
Taiwan Semi (TSM)
Taiwan Semi will report results on Thursday, and the stock has been trending higher for months and appears to be stalling out at resistance around $60.75. However, it seems to be forming a rising triangle, and that would suggest that the stock rises to around $64.85.
Apple (AAPL)
Wedbush raised its price target on Apple to $400 today and noted the company could be worth $2 trillion. Additionally, they see upside to Apple’s December quarterly results and strong March guidance.
The stock is rising above the upper-end of its trading channel, and it could even be forming a rising wedge pattern indiciating a pullback to $291 is warranted.
Have a good day
-Mike
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.
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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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