Can The Bulls Save The FANG's, Tesla & Alibaba - The Week of 8/20

Can The Bulls Save The FANG’s, Tesla & Alibaba – The Week of 8/20

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Can The Bulls Save The FANG’s, Tesla & Alibaba – The Week of 8/20


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For the third week of August, there likely won’t be a shortage of news flow.  The Fed minutes release will come Wednesday afternoon. Meanwhile, the Jackson Hole Fed symposium starts on Thursday. Fed Chair Jay Powell will speak on Friday at 10 AM. It could laya the groundwork for the Fed Policy the rest of the year.

S&P 500

Stocks left off last week in an exciting spot closing below resistance on the S&P 500 at 2,853. Should a break out occur, the index could move significant move higher through Labor Day. Helping to propel the index above 2,900. Meanwhile, should the index fall, we will once again retest support at 2,794.

S&P 500


It will be an important week for the FANG stock’s as they have struggled of late. This is a week where they very much need to get back on track or at least begin to show signs of a bottoming process. Especially Netflix and Facebook.


Netflix is now well off its highs of $425. Should the $306 level not act as meaningful support, then shares may even retest $285.  The relative strength index (RSI) hasn’t been this low since 2016. Even worse, the RSI has yet to put in a meaninful bottom or a reversal of trend.



Facebook stock has also struggled, and now it is facing a decline back into the mid’160’s and lower.  The stock, for the most part, finds itself in the middle of nowhere. It will need to see a bounce off of support at $166, should $173 give way early Monday. Otherwise, it could be facing a decline even lower.


Amazon at this point seems like less of a worry because shares are trading at near their all-time highs. But that also means that $1840 must hold for Amazon this week. Otherwise, it could be looking at a drop into toward $1740.



Even Microsoft finds itself in a delicate position, with the chance to drop to about $102.



Tesla’s stock has now filled the gap, from when it reported results at the start of August. Does that mean the shares can start turning higher again? Only time will tell, but support in the $290 to $300 range has been firm all year.


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Alibaba reports this week, and for now, $164 has held steady. The hope is that the worst is already priced in. Shares could be facing a drop to $148 should $164 not hold.



Caterpillar is also nearing a potential big break out, which could send the stock back into the mid-$140’s. It seems primed for some positive news on US-China trade war.


That will be it. Good Luck this week. If you any tickers you’d like me to look at, message me on StockTwits.


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

I started learning to invest when I was 16 years old. At 40, I have pieced together a long career on Wall Street, working as an analyst, and a domestic and international equity trader at two multi-billion dollar equity firms.

I started Mott Capital in 2014 to follow a passion and dream of being in control of my career path.

The idea behind Reading the Markets was to help both individual and institutional investors benefit from my experience in the business and my unique approach to dissecting stocks and the markets, which helped me become a great trader.

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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.

#stocks #fang  #tesla #alibaba #netflix #amazon #facebook #microsoft


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