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.
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April 23, 2019
Michael Kramer and the clients of Mott Capital own Verizon, Netflix, Disney
- S&P 500 Futures -2.75 points
- US 10-Year Rate 2.585%
- Dollar Index 97.33
- Oil $65.97
- VIX 12.6
- Shanghai -0.51%
- Hong Kong Flat
- KOSPI +0.17%
- Nikkei +0.19%
- Germany DAX -0.2%
- UK FTSE +0.24%
S&P 500 (SPY)
The S&P 500 is pointing to a flattish opening, suggesting another day of stagnation at the start. But the patterns continue to suggest that a break out is imminent. A break out would push the index above 2,915 and towards 2,940 –the all-time highs.
Coca-Cola is rising this morning after beating on the top and bottom lines. The stock is popping to around $49.25. The stock is moving towards the upper end of what has been a long-term channel.
Twitter is rising sharply after beating on the top and bottom lines. The stock is rising above a resistance level at $36.50, and that could set the stock up for a move towards $42.
Roku shares are rising this morning after the stock was initiated with an $80 price target at Susquehanna. The stock is trading right at resistance around $59.40. I had looked for a decline to around $52. So far that view appears to be wrong.
Disney’s price target was raised to $168 from $144 at Bank of America today. I outlined about two weeks ago why I thought the stock might rise to $175.
Netflix will attempt to keep its bullish momentum today, as it needs a big break out at $378. It could send the shares higher towards $388.
Qualcomm is also nearing a big break out with the potential for the stock to continue higher towards $88.
Verizon reported earnings that topped estimates, while revenue came in as expected. Additionally, the company raised its full-year guidance. The stock is rising this morning The $60 to $61 region continues to be the line in the sand for the stock.
Good Luck today
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.