Stocks Are Ready To Rise on July 23

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.

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July 23, 2020

Stocks – MSFT, TSLA, FB

Macro – SPY, 

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MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN TSLA, MSFT

Stocks are rising a bit today, picking up where they finished yesterday. The SPY continues to hold its uptrend with its next level of resistance around $329.40. So until that uptrend breaks, it seems that the SPY will continue to trend higher towards that next level of resistance around $329.40. 

Microsoft (MSFT)

Microsoft is falling today, after results. It seems from reading some commentary that analysts noted the slowing cloud growth. In my opinion, it is tough to know if the slow down in cloud growth is because of a business trend, or an impact from the macro conditions. Longer-term, I think Microsoft is fine. Short-term, the stock could pull back to around $200. 

Tesla (TSLA)

Tesla shares are bouncing around today, as the stock gets some mixed reviews. Again, I think the results were fine and remain on the right track. The stock is stalling a bit around the $1700, but the trend remains higher for now, and it could be creating a bullish ascending triangle. 

Facebook (FB)

Facebook continues to move sideways, and I think it will continue to move sideways until we get earnings. 

Anyway, that is all for now. 

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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