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October 9- Stock mentions: SPY, ROKU, TSLA, NVDA, TWTR AMZN
Michael Kramer and the clients of Mott Capital own TSLA
US Markets
- S&P 500 Futures +24 points
- US 10-Year 1.56%
- Dollar Index 99.04
- Oil $53.15
- VIX 19.1
International Markets
- Shanghai +0.39%
- HSI -0.91%
- Nikkei -0.61%
- Kospi +1.21%
- DAX +0.87%
- UK +0.47%
MACRO
S&P 500 (SPY)
Stocks are rising this morning on positive headlines around trade talks between the US and China. The result, S&P 500 futures are bouncing back sharply from yesterday’s decline. We can see that the futures continue to trend higher and again are bouncing off that uptrend once again.
Soybeans
Soybean prices are breaking out this morning, rising above resistance at $9.13. Certainly, a good sign that perhaps some parts of the markets are expecting something positive to come from the latest round of US/China trade talks.
STOCKS
Roku (ROKU)
Roku is rising today after it was upgraded at Macquire to Outperform from Neutral while raising its price target to $130 from $110. The stock has managed to hold on to support at $100 and is now breaking the downtrend, which opens the possibility for the stock to rise to $122.
Nvidia (NVDA)
Nvidia received some positive comments from Piper Jaffray, and the stock is rising some on those comments. Again $178 is the level that needs to hold for the stock to push higher.
Tesla (TSLA)
Tesla appears to be consolidating in a symmetrical triangle, and that means the stock’s next move may be higher towards $253.
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Twitter (TWTR)
Twitter has that falling wedge pattern, and if it can manage to get above $40.50, perhaps it can make that move towards $43.
Amazon (AMZN)
If Amazon can hold on to this support level at $1700, perhaps it can make its way back to $1770.
Have a good one
-Mike
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This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.
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