Home » 8 Stocks and 3 Sectors To Watch For The Week Of April 2!

8 Stocks and 3 Sectors To Watch For The Week Of April 2!


8 Stocks and 3 Sectors To Watch For The Week Of April 2!

The first quarter ended on a positive note, with the S&P 500 finishing Thursday higher by about 1.4 percent. It appears for now that a double bottom has been put into place on the index when looking at the intraday charts, and we are going to want to see the momentum carry through on Monday morning.

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Mott Capital Management, Michael Kramer

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Sectors To Watch:

Technology

The technology ETF ($XLK) managed to finish just below its uptrend line, which again is disappointing, but still, the overall longer-term trend continues to be higher. We need to watch for the XLK to continue to hold the longer-term uptrend, currently around $64. That is the most important level to watch.

technology


Biotech

Biotech continues along its upward trend as well, that has been in place since last year. Additionally, a symmetrical triangle appears to be forming, and that could be a sign the group is gearing up for a break out at some point in the second-quarter, and perhaps a strong second-half of 2018.

biotech


Semis

The semiconductors continue to look strong as well and are entrenched in an upward direction as well.

semiconductors

Stocks To Watch:

Facebook

Facebook is still the stock to watch in this market, and for now, the trend in Facebook is higher, and like the broader S&P 5oo, it appears a double pattern is in place, and that is good. A big test comes at $166, that is the next resistance level.

Facebook


Google

Google managed to clear two downtrends on Thursday, and that is a positive. $1078 is the next level to watch.

google

Amazon

Amazon has a big gap to fill back at $1,500, so look for a rise. But should Amazon fail at $1,500, I think it moves lower, towards $1250.

amazon

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Netflix

Netflix closed right at resistance around $295. Which way does it go? I think it goes higher, especially as the earnings preview notes start coming out.

netflix

AMD

AMD found a nice bounce off of support at $9.80, a bounce to $10.70 is the next level to watch.

amd


Micron

Micron also managed to turn higher around support at $52.25, and an increase to $55.60 is the next level to watch over the short-term.

mu

Twitter

Twitter filled the giant gap last week, and that means you should watch for the stock to start working higher, the next big test comes at $36.75

twitter

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Tesla

It doesn’t get any bigger than Tesla this week, with first quarter delivery numbers, and of course the Model 3 ramp update. The Bloomberg Model 3 shows Tesla trending towards producing about 2,200 cars per week. While the company also registered about 2,050 VIN’s in a seven day period through March 30. My gut says the press release reads something like, “In the final few days of the quarter, Tesla was producing cars at a rate that would equal 2,500 Model 3’s per week”.

The stock found a very big bounce off of it long-term support around $245, and that means the next test comes around $290. Watch for a bounce this week, if those Model 3 numbers come around 2,500. We should know our answer no later than after the close of trading on April 3.

tesla

Good Luck!

-Mike

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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.

© 2018 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.

Tags: #sp500 #tech #technology #semiconductors #biotech #micron #tesla #amazon #facebook #google #amd #netflix #twitter

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