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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6 Stocks to Watch For The Week of June 25 – A Look At The Week Ahead In The Stock Market
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF TSLA, NFLX, AND AAPL
On July 19 I will be one of three panelists talking about the state of the stock market and where it is going at the StockTwits Future Forum.
Another week is upon us, what will the week of June 25 bring? Good question. Let’s see what we can figure out.
The S&P 500 wasn’t particularly strong last week, but it held its own especially given some of the noise around trade tensions. The fact that it was only down about 20 points, is yet another sign that the market has resiliency, and that this stock market is not the weak stock market of February.
The pattern in the chart, suggests to me that market is likely to break out and rise, and perhaps this will be the week we cross 2,800. The technical pattern resembles either flag or a falling megaphone. The technical chart, to me, suggests the next big move for the S&P 500 is for it to go higher.
Shares of Tesla have been on a wild ride recently, and the stock appears to have refilled a technical gap around $333. I suspect there will be a lot of chatter this week about Model 3 production rates. Remember July 3, is the day we will find out if Tesla was able to hit its Model 3 production of 5,000 units per week. The Bloomberg Model 3 tracker has the Model 3 currently trending at over 4,000 a week.
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Micron’s stock sits a significant technical support level of around $56.80, should it hold technical support than, rise back to $61 seems in order. Should it fail, a drop to $54.
I can tell you the level of calls at the $60 strike price for expiration in July is steadily rising, with nearly 133k open call contracts.
Apple sits a vital level around $186, a technical support price. Downside risk in Apple presently looks to be around $180. We should start hearing a lot in coming weeks about Apple’s new phone’s due in September. We should also start getting a sense for how many units the company is preparing for based on what kind of guidance suppliers start to give on their quarterly calls.
Netflix trends for new subscriptions look to be strong based on the latest from Google trends. India still seems to be a hot marketplace. Notice below the trend is breaking out for subscription searches and some Netflix shows, worldwide.
We can also see that the trends has for the search term “Netflix subscription” has been steadily rising. Now, I don’t know if you can do technical analysis on Google trend search terms, but the term “Netflix subscription” looks primed to break out.
Intel does not look great here, and perhaps a drop back to $50 is still on the way.
Starbucks hardly got a bounce on a Friday, even after Howard Schultz (the former CEO) said the stock was cheap. I think it may be on its way to about $44.
That is it!
Good Luck this 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.
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