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Stocks Jump, But Micron, Nvidia, Apple Still Not Out Of The Woods

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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Stocks Jump, But Micron, Nvidia, Apple Still Not Out Of The Woods

The stock market is rising, and the volatility continues to make trading or predicting the general market direction impossible. But again, we have seen this episode before, so caution is still needed. It was just last Monday, April 3 that S&p 500 jumped higher until to give the gains back on Tuesday.

Resistance in the S&P 500 right now around 2,650, then 2,670.

S&P 500

Micron

Micron is just getting back to resistance at $49.75, and it will need to break resistance meaningfully, to get a change of trend.

mu

Nvidia

Nvidia got back over $218, which is good but still need to climb over $222, to get out of its downtrend.

nvidia

Apple

Apple found a bounce off that support level we spoke about on Friday, which it was near breaking, but now needs to get over $174.

apple

 

That is gonna be all for now.

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.

© 2018 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.