This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.
Otherwise, enjoy the column!
Subscribe to the Monster Stock Market Commentary and join the 2,476 subscribers getting it for FREE every day!
DECEMBER 27, 2019
STOCKS: MU, MA, ATVI, AMD
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN MA
S&P 500 (SPY)
Stocks managed to finish the day flat in what I’d considered a relatively uneventful day. From a technical standpoint, nothing has changed; that is how boring it was.
The uptrend is firmly in place, and we can see the index got close to that trend line and bounced solidly.
I noted today, in the midday update that Micron needs to hold support at $54. To this point, the stock has been able to do that. That may be all that matters at the moment.
Mastercard had a strong day, crossing $300 for the first time. $305 is the next level of resistance I see in the stock.
Activision is very close to taking its next step higher to fill the gap up at $62.60. The stock is consolidating nicely around resistance at $60 and looks ready to take that next step higher.
AMD is stuck at resistance now at $46.80, and it appears to be overbought, and perhaps heading lower to $43.
Have a good night
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 results.