For the week of October 14 – Stock mentions: SPY, NFLX, AAPL, ROKU, AMD, ACAD, TSM
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN NFLX, ACAD, AND AAPL
The S&P 500 (SPY) didn’t have the greatest finish to what had otherwise been a solid week. The index failed at resistance two times on Friday at 2985, not the best sign. It likely setups a retest of the gap created and support at 2940 to start the week. You can read more about last week and the week to come in this premium story – It May Be A Rocky Week At First But Don’t Lose Faith- Yes, the first two weeks are free to try. If you cancel, I won’t cry, nor be insulted, give it a try.
Netflix will be one stock in the news, with its earnings coming on Wednesday after the close of trading. Shares have found a floor over the past few weeks around the $260 region, and the move higher on Friday took the stock back to $285. We can see the RSI has had big step higher, and that means momentum is coming into Netflix, and that the stock still likely has further to rise potentially back to $295.
Apple moved to a new all-time on Friday, and I fear the stock has moved to quickly and drop back to $222 may be on the way.
Roku is probably not finished rising, yet. It still has an unfilled gap up at $133 that is out there. Watch for the stock to move to $133.
AMD had a strong week rising above resistance at $29.40. Watch for a retest of support at $29.40, followed by a move higher to $31.40
Acadia has been rising nicely, and with a solid uptrend, the stock probably continues to $42.
Taiwan Semi (TSM)
Taiwan Semi has been a hot stock recently, and it could be going higher. I have seen a lot of bullish activity in this one recently. In this premium article, I note the activity. You can get the first two weeks for free. Taiwan Semi May Have FurtherTo Surge
Have a great Sunday!
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