December 10, 2019
Stocks: AAPL, TSLA, ACAD, PYPL, BABA, SBUX,
Macro – SPY, IWM
Reading The Markets Premium Content From December 10
- Subscriber Mailbag- Following Analyst Rating And Price Targets
- Looking For Signs Of A Market Rebound – BA,MU, NFLX, NVDA, NXPI, TSLA
- Gap Filled, Economy Improving, Markets Move Up
- Amazon Is Seeing Bullish Betting, Suggesting 7% Increase
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN ACAD, TSLA, AAPL
MICHAEL KRAMER OWNS IWM JAN $166 CALLS
S&P 500 (SPY)
Stocks fell slightly today, dropping by 11 basis points. I’m not getting a clear sense of how to proceed at the moment. It feels like we may be in another holding pattern at this point. The market doesn’t want to fill the gap, and at the same time, the market doesn’t want to go up. So we can wait and see what tomorrow shall bring.
Perhaps the Russell has a slightly better setup then the S&P. The chart seems to resemble a Flag pattern, and maybe that means that the index finally breaks above 1638 and pushes higher.
Acadia continued to fall today, for no reason that I know. It seems surprising given the strong news the company has had in recent weeks. The stock is back to the uptrend and has filled the gap for the most part at around $46. This is the area where the stock has to bounce.
Tesla is turning higher, and it is working towards that gap fill up at $360. The RSI is turning higher, too, and is still only at 64, so it seems possible for the stock to rise further.
Alibaba is still trying to break out and rise above resistance at $201. The trend in the RSI suggests the stock continues to push higher.
Starbucks is trying to get above resistance at $87.25, failing on the first attempt. It seems like momentum has shifted to bullish from bearish, and the stock pushes higher from back to $91.40.
I noted today in a free article I thought PayPal was due to rise after seeing some bullish options betting. – PayPal’s Stock May Be Heading For A Year-End Rally
Apple is trying to get over $268 resistance. If it can clear that level, then $276 would be next. If it does stumble, it seelms likely we retest $260.
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.