Stock Remain Resilient On A Sleepy Friday Afternoon
Stocks went nowhere on Friday, December 27, and despite the dull day the uptrend remains firmly in place, and that is good.

Stocks Remain Resilient On A Sleepy Friday Afternoon

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DECEMBER 27, 2019

STOCKS: MU, MA, ATVI, AMD

MACRO: SPY

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.

S&P 500, spx

Micron (MU) 

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. 

micron, mu

Mastercard (MA) 

Mastercard had a strong day, crossing $300 for the first time. $305 is the next level of resistance I see in the stock.

mastercard, ma

Activision (ATVI) 

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.

activision, atvi

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AMD (AMD) 

AMD is stuck at resistance now at $46.80, and it appears to be overbought, and perhaps heading lower to $43.

amd, amd

Have a good night

-Mike

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.      

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