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Nvidia, Micron, and Roku Are Still Struggling, Tesla Preview
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Final Thoughts on 2018 Outlook
2018 will be all about earnings growth, inflation watch, and interest rate. Should inflation stay in check, then I think 2018 should be another solid year for the markets.
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Roku
Roku has officiallyย broken down and moved outside of support. It sets up a potential fall in the stock to $48.50.
Chip Stocks
Nvidia
Nvidia has struggled lately and has been unable to regain the level of support it had throughout all of 2017. It surely not a positive sign and there is now a sign of a downtrend forming in the chart, admittedly not a great way to start off the new year.
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Micron
Micron’s shares have tradedย poorly post earnings results, far worse than I expected. In fact, the stock is again at risk of a significant fall, should support not hold at $40.50. Part of the reason for the poor performance is the Chip group as aย whole has performed so poorly lately. But don’t feel bad, because they have had a monster year. Look at the chart below for proof.
Compiled Using YCharts
Count ’em, only three stocks out of the top 25 holdings were down for 2017!ย You think 2017 was a good year for the chipmakers?
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Mott Capital – Thinking About 2018 from Michael Kramer on Vimeo
We discuss the sectors that are likely to do well to start 2018 and the sector that will lag.
Tesla
By January 3rd, we should have Tesla deliveries numbers, for the Model S, X, and 3. Reports that truckloads of Model 3’s are leaving the plant in California. I have no idea how many Model 3’s will be deliveredย this quarter, it is anyone’s guess, but for fun, let’s say its 5,000.
Technology
Technologyย stocks look set to have a pretty slow start to 2018. It needs to get back into that trading channel. That means either a slight downdraft to start the year or flat action until Feb.
S&P 500
Finally, the S&P 500 is going to finish the year right in the box we drew out awhile back. A great finish to a fantastic year.
Read Our 10 Monster Predictions For 2018
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Disney- The Market Finally Get’s It
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Why The S&P500 Could Melt-Up Into Year End
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Free Articles Written By Mike:
Alphabet’s Bull Run May Be Far From Over
Why Alibaba May Rebound by 20% or More in 2018
Why Bitcoin May Plunge 50% Further
AMD and Nvidia, Bitcoin Fears Maybe Overblown
Nike and Home Depot May Be Ready To Fall By 10%
GE’s Stock Investors Should Brace for More Pain
Apple Chipmakers Are Ready To Rebound
Micron’s Earning Blowout May Fuel 14% Stock Rebound
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Michael Kramer and the Clients of Mott Capital own shares of TESLA
Mott Capital Management, LLCย 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.ย 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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Tags: #nvidia #roku #micron #sp500 #tesla #model3