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

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

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

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