7 Stocks To Watch For The Week of July 8

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF NFLX AND TSLA

The big question for the stock market will be if it can continue to rise this week, after a solid showing the last two days last week. I happen to think that it can continue to rise, but the big challenge will remain at 2,800.

Netflix

As noted yesterday the banks will kick things off on Friday, and then we get Netflix on Monday the 16th. The trend Netflix subscription on Google trends continues to rise, and I think that bodes well for not only total subscribers in the second quarter, but I think it may be a positive for the guidance in the third quarter. Obviously, we shound’t get ahead of ourselves,  but it shall be interesting to see if this way of tracking still carries weight.

(GOOGLE TRENDS)

So if the stock can get over $410 early this week, I’m guessing that the stock will likely be trading at all-time highs into there earnings report next week.

The stock retest support at $382, and that managed to get over resistance at $392, and the chart is still looking very bullish to me.

Tesla

A lot was made last week about Tesla’s and its production number. I found two things interesting, the first I noticed today, and that was the Bloomberg Model 3 tracker, which is showing production at nearly 5,200 units per week and continues to trend higher. Also, what I also found interesting this past week, is that analysts revenue estimates for the second quarter are only down 2 percent over the past 30 days.  I find it interesting because I read in many different places about the significant delivery shortfall in the second-quarter. Well, if that was the case why aren’t estimates for revenue way down? Good question. There wasn’t a significant shortfall, was there.

TSLA Revenue Estimates for Current Quarter data by YCharts

Please remember that when it comes to the trading in this stock, most of it is driven by the short-seller just shorting and covering their shares, pushing the stock up and down.  There isn’t much in the way of institutional selling, at least not based on 13F filings.

Round the Horn

Boeing

Boeing shares continue to look week, and I think the stock is likely heading towards $320 still. Volume has been sliding of late .

Square

Square is attempting to re-emerge and break to new highs, I think it will.

Cisco

Cisco looks pretty bad here; I could see a fall to about $39.

PayPal

PayPal looks like it is making another attempt to break out.

Intel

Intel continues to improve, looks to be heading higher, maybe back to $55.

Good Luck This Week!

-Mike

Photo Credit via Flickr

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#netflix #tesla #Boeing #square #paypal #intel #cisco