Amazon, AMD, Roku, and Facebook Are Facing Steeper Losses

Amazon, AMD, Roku, and Facebook Are Facing Steeper Losses

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!

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Amazon, AMD, Roku, and Facebook Are Facing Steeper Losses


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Amazon (AMZN)

Lots of things happening today in stocks. Consumer names got hit rather hard with the discretionary ETF down by nearly 1.35%. A lot of that decline was Amazon. Yesterday I talked about the stock failing at two levels of resistance and that today would be an important day. Well, the shares fell hard today by about 1.5% to around a price of $1,970. At the moment the next level of support comes around $1900 then it is $1840.

The long-term worry is whether or not there is a making of double top pattern in the chart. It is way to early to say. But should the price fall below $1840 then that is very well might be that.

amazon, amzn stock, stock

Reading the Market Premium Content:

Banks May Be Ready To Fall Further

Intel (INTC)

Look at Intel, it broke out today rising above $47.70, but then it failed at $49. By the way, the resistance line at $49 is new; I just put it there today. I had not considered it be a strong level of resistance, but it is stronger than I thought. Overall the stock has broken out of this falling wedge, and I think it still has much further to rise.

Intel, Intel Stock, intc , stock


AMD got crushed today. Look I’m thrilled that I got the call right. I’m not happy that investors are losing money. But I think the stock has further to fall, to perhaps $25.70. This stock is overvalued, and I think the news from Intel over the past few days has reminded people that Intel isn’t going away.

amd, amd stock, stock

Roku (ROKU)

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Roku is another stock that got crushed today, and I think this one can drop to roughly $64.25.

roku, roku stock

Celgene (CELG)

Celgene had a nice move higher today, and the chart continues to look strong. As noted early it seems as if Celgene’s stock can work its way higher towards $96. Interestingly there were about 3,500 Oct 5 $90 calls trading today.

celgene, celg, stock, celg stock

Disney (DIS)

Disney is attempting to break out for a second time with shares rising to over $117.50. It feels like this stock is starting to turn the corner and I think we will see record highs soon.

disney, dis, stock,

Facebook (FB)

So much for Facebook’s break out last week. This stock is once again on the brink of going to its 2018 lows around $148.75. There is nothing to like about this stock currently. Nothing.

facebook, fb

That will be all for today!


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Michael Kramer is the Founder of Mott Capital and the creator of Reading the Markets.

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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.


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