Stocks Are Pointing To Higher Opening On January 13
Stocks are pointing to a higher opening on January 13 as analysts upgrade and price target increases pile up ahead of earnings season.

Stocks Are Pointing To Higher Opening On January 13

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!

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January 13, 2020 6:50 AM ET


Macro: SPY, IWM

US Markets

  • S&P 500 Futures +11 Points
  • 10-Year Treasury 1.85%
  • Dollar Index 97.49
  • VIX 12.76
  • Oil $58.96


  • Japan +0.47%
  • Shanghai +0.75%
  • HK 1.11%
  • Kospi +1.04%
  • UK +0.41%
  • Germany -0.01%


Stocks are looking to open higher on January 13, with the S&P 500 futures rising by about 40 basis points. It is following a strong trading session across Europe and Asia. Currently, the futures are trading around 3,277 and would need to rise to above 3,288 to take out Friday’s highs. Again, nothing much has changed for the S&P 500 over the past several trading sessions, with the market continuing to trend higher.

S&P 500, spx


We will want to watch the small-caps today and see if they can finally participate in a rally.

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russell, IWM

Tesla (TSLA)

Tesla is rising this morning after Opco raised its price target on the stock to $612 from $385. The stock’s next level of resistance comes around $508.

tesla, tsla

Beyond Meat (BYND)

Beyond Meat continues to rise, and is trading up to around $102. At this point, the gap is completely filled at $100 to $102.

beyond meat, bynd

Netflix (NFLX)

Netflix is getting some positive commentary today from Piper Sandler, which noted that they see upside to the domestic and international subscriber results, above the consensus. It seems like the market has been playing it cautiously with Netflix this quarter despite several positive notes from the sell-side. The stock really needs to find a bounce today and get back above $336, otherwise I think the trend is lower to $332 or $315 moving into results next week.

netflix, nflx

Splunk (SPLK)

Splunk received a price target boost today at UBS, going to $176 from $158. The next level of resistance for the stock comes around $161.

splunk, splk


AMD is rising this morning, and the stock has been consolidating nicely around $48.50 and appears to be forming a bullish triangle pattern as it gets ready to push higher towards $59. Free article – AMD’s Bulls Are Growing Even More Bullish

amd, amd

Have a great day


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.