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MARCH 22, 2020
STOCKS: AAPL, AMZN, JPM, ROKU, PYPL, BA
MACRO: SPY
Reading The Markets Premium Content by Mike – on StockTwits and Seeking Alpha Market Place
- What To Watch For During The Week Of March 23
- Economic Outlook Darkens Quickly
- Reaching For Dollars – Midday 3.19.20
- I Think This Going To Get Worse, I Raised My Cash To Just Over 40%
Michael Kramer and the clients of Mott Capital own AAPL
The week of March 23 is going to be a wild one again after a horrible last week. The options market is suggesting that the SPY rises or falls by 9.3% from the $230 strike price, based on the long straddle options strategy for expiration on March 27. It puts the ETF in a trading range between $208.60 to $251.40.
S&P 500 (SPY)
The S&P 500 saw a low of 2,270 on Wednesday, and that maybe the big level to watch this week, with a break below 2,270, sending the index to around 2,190. The following level of support comes around 2,080, and the lower bound of the trading range being suggested by the options market.
Apple (AAPL)
Apple fell below support at $235, and that means the stock is likely to continue falling towards $225.
Amazon (AMZN)
Amazon broke the uptrend this week and is now sitting on support at $1825, with the next level of support coming around $1760.
Roku (ROKU)
Roku has been trending higher, but is approaching resistance at $81, and break of that uptrend sends the stock lower back towards the lows at $58.
JPMorgan (JPM)
JPMorgan is trading above an essential level of support at $81, with a break sending the shares lower to $71.
Boeing (BA)
Boeing is now trading below $102 and is likely to move even lower to $70.25.
PayPal (PYPL)
PayPal is nearing support at $85.60, and a break of that support could send the stock lower towards $74.50.
Try to have a good week!
-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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