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.
Otherwise, enjoy the column!
Subscribe to the Monster Stock Market Commentary and join the 2,041 subscribers getting it for FREE every day!
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!
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.