Subscribe to The Free Market Chronicle and join the 2,713 subscribers getting it for FREE!
[widget id=”text-28″]
[widget id=”text-23″]
Stocks and Sectors Breaking Out For The Week of May 14
Michael kramer and the clients of mott capital own shares of acad, dis, and googl
[widget id=”text-19″]
The week of May 14 will try to continue to build on last week’s strong performance. With earnings pretty much behind us now, investors can continue to digest the strong earnings seasons. Meanwhile, the latest inflation and wage data should also calm nerves over runaway inflation or a Fed that will need to be over aggressively, and allow for stocks to continue to rally this week.
The S&P 500 broke out last week, and the relative strength index also broke out, and I think we should continue to see the broader market continue to trend higher this week. I’m still looking for a rise to about 2,800 on the S&P 500 over the next couple of weeks.
[widget id=”wordads_sidebar_widget-41″]
Consumer Stocks
We have seen Technology names breakout over the past week, and I think we see the consumer stocks finally breakout this week.
The XLY ETF is very close to breaking out, and the RSI also appears set to breakout, I think that happens this week.
[widget id=”text-22″]
Amazon
As I have written previously, Amazon is close to breaking out, and I think that breakout can happen this week, as it sits right below resistance.
[widget id=”text-23″]
Home Depot
Home Depot is another one that already has broken out, and is reporting results on May 15. Analysts are looking for earnings for $2.05, on revenue of $25.2 billion. A return to $210 may be reach for later this week.
[widget id=”text-21″]
Disney
Disney is also likely heading higher, potentially back to $111.
[widget id=”wordads_sidebar_widget-41″]
Nvidia
Technology stocks have already broken out, and we are going to want to see a strong continuation this week. Nvidia is going to be the one to watch here. It has broken out, and the earnings results served as a retest of the breakout, and it held. Now we to see a follow-through higher.
[widget id=”text-21″]
Micron
Micron also broke out, and I think a rise to about $54 is in the works.
[widget id=”text-21″]
Alphabet
Alphabet is has been on a tear, I think that one continues, on towards $1150.
[widget id=”text-28″]
AMD
AMD has also broken out and a rise to $13.70 could be coming shortly.
[widget id=”wordads_sidebar_widget-41″]
Biotech
Another group I will be watching are the biotechs, to see if they can build on Friday’s strength. The XBI appears to have broken out, and the RSI did as well. We could see a rise back to the highs around $96.
[widget id=”text-21″]
Nektar
Nektar shares bounced right off support around $70, the key this week is if the stock can get back over $83.
[widget id=”text-22″]
Acadia
Acadia may also be close to breaking out and a push back to $27 would sure be nice.
Mike
Just $200 Per Year – Get Your Free 2 Week Trial
Recent Videos:
The Setup In Stocks Continues To Improve
A Rise Back To 2,800 On The S&P Is In The Works
Why It Is Time To Dump Starbucks, Plus A Look At ACAD
It’s Back! Apple Investors Are Worried Once Again
A Review Of Netflix, IBM And Earnings Outlook
Free Articles Written By Mike:
Broadcom Traders Bet on 12% Rebound
Costco May Plunge 11% as Growth Slows
Square’s Stock Seen Rising 12% By June
Disney’s Stock Is Poised to Rise By 10%
Gilead May Rebound By 12% Short Term
Tesla Stock May Break Out, Fueling a 10% Increase
Alphabet’s Battered Stock May Jump 7% Short Term
3 Overvalued Stocks That May Fall Sharply
3 Tech Stocks Nearing a Breakout
Roku’s Stock Faces Huge 17% Price Swing on Results
Nvidia’s Stock Poised For Big 8% Jump On Earnings
Amazon Traders Bet Stock Will Rise 12% Further
Microsoft Bulls Look for More Big Gains
Why S&P 500 Stocks May Rebound 6% Short Term
Chipmakers May Soon Rebound to New Highs
Biotech Stocks Set to Breakout
Join our 2,713 Daily Subscribers And Get This Commentary In Your E-Mail! Subscribe
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.
© 2018 Mott Capital Management, LLC. Use, publication or reproduction in any media prohibited without the permission of the copyright holder.
Tags: #amazon #consumer #technology #biotech #homedepot #acadia #nektar #disney #nvidia #amd #micron