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
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