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Netflix Breakout, Roku Breakdown, Acadia Rising, Plus Much More
Netflix share had a massive breakout, finally crossing over that $190 resistance level that has held the stock in place since the end of November. It seems somewhat apparent some big seller finished their order up yesterday, because the way the stock lifted today, and the way it has managed to stay right around $190 for the past month speaks of a massive seller with a limit order. We’ll see where it goes from here, but with that support now at $190 firmly in place, it seems likely the stock will have an excellent start to 2018.
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Roku
Another “streaming media” stock didn’t fare as well today, with Roku ($ROKU) falling by almost 3 percent. More critical for Roku, is that it closed right below the uptrend, and that could be very bad for the stock. It all depends on how accurately I drew the line. But if the stock did indeed break the uptrend, then it likes has room to fall towards $47.
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Biotechs
The Biotech ETF ($IBB) tested support early today at $107, and support held, and with that, the ETF turned higher. It is a positive sign, and the setup for the group seems strong heading into 2018.
Acadia
Acadia shares have started rising once again, and the momentum going into the new year is a welcome sign. The last two years have been nothing but disappointment for holders of this stock, and perhaps with Nuplazid sales beginning to ramp up, 2018 is the year Acadia separates itself from its link to the ETF’s.
The stock has been starting to move higher and needs to rise above $35, to have a breakout, that finally takes the stock out of that long-term downtrend.
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Consumer Stocks
The consumer discretionary stocks have stalled out, with the $XLY stuck around $99.50, a move to $100, would signal a breakout.
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[youtube-feed feed=7]A lot of the reason is that Amazon has stalled out, with the stock making up nearly 17 percent of the weighting in the ETF. The next most significant component after Amazon, sis Home Deport at 8 percent, followed by Comcast at almost 7 percent. Amazon will need to lead this group higher in 2018.
Energy
Energy stocks are starting to come back to life as oil continues to rise, and the Energy ($XLE) has rallied by 5.5 percent just since mid-December, with Chevron being a big part of that, surprisingly Exxon ($XOM) has not participated.
Exxon makes up about 23 percent of the XLE, while Chevron makes up about 17 percent. Without Exxon participating it is hard to image the rally has much legs. But if Oil continues to climb it would seem Exxon likely gets involved, even though it has a substantial natural gas component to its business.
That’s it!
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Michael Kramer and the Clients of Mott Capital own shares of NFLX, ACAD
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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Tags: #biotech #netflix #consumer #stocks #roku #oil #energy #exxon #amazon #chervon
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Charts used with the permission of Bloomberg Finance L.P. This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.