For the week of November 4
Stock Mentions: FB, ROKU, DIS, NFLX, BYND, ACAD, SBUX
Macro Mentions: SPY, XBI
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN ACAD, NFLX, DIS
PREMIUM READING THE MARKET HEADLINES FROM LAST WEEK:
- STOCKS SOAR TO RECORD HIGHS
- Investing With A 3-5 Year Time Frame – My Approach
- 3 Stocks Making Me Look Stupid
- The Fed May Be On Hold For The Foreseeable Future
- Mott Capital Third Quarter Investor Letter
- S&P 500: Higher Prices To Come
- AMD BEARISH BETTING HEADING TO RESULTS TONIGHT
- Apple May Slide Following Results
- Why Amazon’s Trouble May Only Grow Worse
The week of November 4 should be much calmer in terms of news and headlines. No Fed, fewer earnings, and less economic data. Hey, I also turn 42 on Monday. Happy Birthday To Me! 😀 How can it get better than that!
We also broke the 2,000 free email subscriber mark for the first time last week! We have come a long way over the past two-years! Thank you for the loyal readership!
S&P 500 (SPY)
The market powered higher last week, with the index finishing at 3,066. If we duplicate the move higher in October for the S&P 500 over the balance of the year, then we could finish the year right around 3,150. At least over the short-term, that may be the next significant level of resistance for the market.
It looks like the XBI broke out in a major and watch for the ETF to climb back to $85.25 the week of November 4, and potentially as high as $87.25.
Facebook will continue to be on the watch list this week as the stock continues to find a direction following its results. If the stock can continue to hold support around $191, then perhaps it has some further to climb towards $203. If not, a decline to $180 seems likely, which is what I continue to believe is the most likely outcome.
Roku will report results this week, and resistance is currently at $150. I think this stock is heading lower back to $135.
Disney is breaking out of its falling wedge and has retaken resistance at $132. The options betting I observed a few weeks backs suggests the stock rise to around $137.50. I think that is the case. The results won’t matter much, commentary around Disney+ will matter most. The services goes live on November 12, and you can sign up now!
Premium content – Here’s Why Disney’s Share May Climb
Netflix has had a nice move off its lows and is now trending higher. The good news is that the stock has held support around $285, and that likely means shares are rising back to $300.
Beyond Meat (BYND)
Beyond Meat is hovering around support at $78. The bad news is that the stock is near a break down that could send it to $61. Ouch!
Acadia is perhaps the only company in the world that can post blow out top and bottom-line results, and then guides higher for the rest of 2019 and the stock goes lower following results. I think it finally does go higher this week and rises to $48.
It looks as if Starbucks finally broke the downtrend, and it appears it may have retested it too. If that is the case, the stock goes higher and retests resistance around $87.
Have an awesome week –
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