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Can The Bulls Save The FANG’s, Tesla & Alibaba – The Week of 8/20
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF TSLA AND NFLX
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.
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.
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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