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June 25, 2020
STOCKS – BA, WFC, AMZN, DIS
MACRO – SPY,
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- One Day Hit Or Much More To Come?
- Betting On A 10% Drop In AT&T
- Tough Resistance At 3100 – Morning Commentary
- Nasdaq 100 May See A Sharp Reversal Short-Term
- Betting Indicates Facebook Falls
- The New Week Faces Headwinds – Morning
- Spiking Coronavirus Cases, What It Means – The Week Ahead
S&P 500 (SPY)
S&P 500 futures have been bouncing around, falling sharply, rising sharply, and falling sharply. But the only thing that may matter is that the futures failed again when they reach resistance at 3,050. The piece of good news is that 3,000 held. However, I get the feeling based on how the futures have been trading and failing at 3,050; we may revisit 3000, potentially even later today.
Boeing (BA)
Boeing was downgraded today by Berenberg to a Sell from Hold with a $150 price target. The stock’s next significant level to watch is $166, and then $158.
Amazon (AMZN)
As I noted yesterday in a FREE story, Amazon is its highest price to sales ratio in years, and it seems like the stock is now forming a bearish reversal pattern, a rising wedge, with the potential to fall back to $2100. Free story – Amazon’s Bull Run May Be Near Its End
Disney (DIS)
Disney is moving lower as the company is thinking about the delay the opening of its new move Mulan, and its Disneyland reopening. A decline below $109, pushes shares lower towards $99.
Wells Fargo (WFC)
Wells Fargo is sinking again, and drop below $26 sets up a more significant drop to around $24.
Have a great day!
-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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