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APRIL 21, 2020
Stocks – NFLX, NVDA, AMD, INTC, MSFT
Macro -SPY
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN MSFT
Mike Reading The Markets Premium Content –
- Stocks Snap, Risks Still Building
- Stocks Dropping With Gaps Fill Waiting
- Gaps Filling, Late Day Fade? – Midday Update
- Square May Continue To Climb
- OIL DROPS, EUROPEAN CREDIT RISKS, BETTING STOCKS FALL – MORNING COMMENTARY
S&P 500 (SPY)
Stocks finished the day lower by over 3% with the S&P 500 close around 2737. The good news is that the index managed to hold on to a support level around 2725. The bad news is that the index fell below the uptrend that was formed off the March lows. It not particularly a great sign for the future of the index over the short-term. It means tomorrow will carry some extra weight, as we will need to see the index recover today’s loss and more to move back into the uptrend. If it should fall below 2,722, it is likely to result in a drop to around 2,636.
Nvidia (NVDA)
Nvidia shares got crushed today, falling by over 6.3%. The stock has now fallen to the other side of the uptrend, and it is broken. Watch out for that drop to $256.
AMD (AMD)
AMD also fell sharply today, and the stock looks like it may be setting up a double top pattern. We will need to watch closely how the stock acts around support of $50.85. That will be a big test.
Netflix (NFLX)
Netflix is trading pretty much flat after it reports about 15 million net subscriber additions in the first quarter. That was a considerable amount. I will have to dig through it some more. It did manage to spike over $450, but it is now back below that level, so let’s use that as resistance for now.
Microsoft (MSFT)
Microsoft broke a significant uptrend, and that could spell trouble for the stock, with a gap to fill down at $153.
Intel (INTC)
Intel had a rough day too, they report results on Thursday, with a chance for the stock to fall to $50.25. You can read more here in this free article I wrote up. Risks Are High For Intel Following Results
Have a good night.
-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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