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Why Nvidia, Activision, and PayPal Could Lead The Market Higher – The Monster Week Ahead Report
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The week of November 27 will be a full-trading week, so surely all market participants will be back. There are now only five weeks left in 2017, and it will be interesting to see how the last few weeks go. As we mentioned before, there is little standing in the way of the #markets from continuing to rise. Undoubtedly, the tax reforming billing falling apart could be a huge negative, but at this point, it seems something will get done. Barring some unforeseen geopolitical event, the last five weeks of 2017 will ride on the coat-tails of the best-performing stocks, and that will help to drag everything up.
The graph below shows how many of the sectors have all gone up by about the same amount as the S&P 500, except for technology and energy, which are opposites. The #technology ETF ($XLK) is up over 33 percent, while the #energy ETF ($XLE) is down about 10 percent for the year.
Technology Sectors Big Run
The table below shows just how strong the technology sector has been thus far in 2017. There are only three stocks down out of the top 25, Verizon ($VZ), AT&T ($T), and IBM ($IBM).
Everyone knows the years that Micron Technology ($MU) and Nvidia ($NVDA) have had, but what about the #Fintech companies, #PayPal ($PYPL), #Visa (V), and #MasterCard (MA), are having absolutely monster years. PayPal is up by just about 100 percent this year. Activision Blizzard ($ATVI), the creator of video of games, has surged by almost 83 percent! These are massive gains going up and down the Sector without a doubt.
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Technology XLK ETF Top 25
(Data Provided by Ycharts)
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Nvidia shares just continue to rise and is a repeat of last years monster gains. Every time we think Nvidia is finished rising, it just keeps rising. If Nvidia can cross $219, Nvidia can go higher before the year is over.
Activision Blizzard is on the verge of a significant break out too, just like Nvidia. If Activision can break through $67, it too will be on its way too much higher levels as well.
PayPal has had a tremendous run and is relatively clear which way this one has trended.
Visa has been trending nicely higher all year, and is right in its regression channel, a rise above $113 is a breakout for Visa.
MasterCard shares trend changed direction in May, and since then the slope of the rise has turned sharply higher. The stock is likely to continue to trend towards $160.
Lastly, I through in #Tesla ($TSLA) because there has been no stock that has been more controversial over the past year or the past few years. The stock has been extremely volatile in 2017, due to the build-up of the Model 3 launch, and then the Model 3 production issues. Tesla is likely not finished being volatile anytime soon, either. But the chart has some interesting bullish indicators built into it.
First, we can see in the chart above, the breakout that occurred in 2017, after a 3-year period of consolidation. Second, we can see that Tesla, has recently tested technical support around the $290 level, which was the stock previous resistance level.
The stock has started trending higher recently, a move above $325 sends shares back into the $340’s. The $290 to $300 range will continue to act as very strong support for the stock going forward.
Good Look This Week!
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Michael Kramer and the clients of Mott Capital own shares of V,MA,TSLA, Vz
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: #SP500 $XLK $SPY #VISA #MASTERCARD #NVIDIA #ACTIVISON #TECHNOLOGY