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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July 14 – Stocks to watch: CSCO, SHOP, TTM, PYPL, ROKU, AMD, AMZN
Michael Kramer and the clients of Mott Capital own CSCO
No Morning Commentary – Due to the late release for Sunday
Here is a list of stocks to watch for the July 15 trading session
You can read more picks and more thoughts on the week in my premium article: The Week Ahead For July 15
Cisco has finally broken out rising above resistance at $57.20. I think this will clear a path for the stock to move on to around $61. The RSI is trending and support the bullish technical break out.
Shopify is another stock to keep an eye. SHOP has had an incredible run, but the RSI is rolling over, and its uptrend has been replaced with a downtrend. I think the stock falls towards $285.
Trade Desk (TTM)
The Trade Desk is another stock that has been rising steadily in an uptrend. The RSI has been trending lower, despite the stock soaring, a bearish divergence. Additionally, volume levels have been falling as the stock is rising, a sign that buyers may be thinning out. A drop below $230 sends the stock back to $173.
PayPal appears to be forming a rising wedge pattern, which suggests the stock fall back to around $104.
Roku, I may have gotten wrong the last time, but the chart appears to be forming a topping pattern. Just look at the RSI which continues to trend lower, while the stock failed at the old uptrend, which is now resistance. Watch for a drop below $88.
AMD stock appears that it may be on its way towards $36, should it topple resistance at $34.50 which I think it will.
Finally, Amazon could be on its way to $2,060.
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