Home » Can Netflix, Apple, Square, and Micron Continue To Rise?

Can Netflix, Apple, Square, and Micron Continue To Rise?

Can Netflix, Apple, Square, and Micron Continue To Rise?

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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Michael Kramer and the clients of Mott Capital own Apple and Netflix

S&P 500 (SPY)

The stock market finished flat on February 26. It would seem as if the S&P 500 is consolidating around this 2,800 level. It likes a good place to take a break.

S&P 500, spx

Russell

The Russell did underperform today falling by 70 bps.  I’m not 100% sure of what to make of the underperformance.  We can see what happens tomorrow to get a better sense of things. Russell 2000

Housing (HGX)

The housing sector paused and for now is failing at that downtrend. Not the greatest sign, but we will need to continue to watch this sector to see how it acts over the next couple of days. Remember this was the sector we identified that led the stock market lower and higher starting in December. 

hosuing

Netflix (NFLX)

At this point, I’m not sure which way Netflix is going to head. The stock is at a point where something will happen. You can see that the stock is nearing the end of the triangle. We can also see the RSI has consolidated.  Volume has started to dry up as the stock has risen, which would suggest to me that the sellers are merely thinning out. Also on the price volume, we can see that path of least resistance seems higher. I have a 50/50 shot of being right here, so I’m going to pick the way higher and on to the $380 level.

If it fell, the drop support would be to around $337.

netflix, nflx

Square (SQ)

Square will report results tomorrow, and it looks more and like the stock wants to head higher. There is a rising triangle forming, and that would suggest that the stock continues to resistance at $83.

square

Apple (AAPL)

Apple’s stock continues to rise and there is a bit of curvature to the price. Regardless of the speed, I still happen to think the stock is heading to $182.

aapl

Micron (MU)

Micron continues to hold support firmly around $42ish, and the move to $45.50 still seems on intact.

micron, mu

Home Depot (HD)

As I expected this morning Home Depot held support today around $182. There is a nice gap fill opportunity up to $190.

hd

-Mike

Photo From Flickr