December 9, 2019
Stocks: BA, SWKS, V, SHOP, UL
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SWKS, V, UL.
Reading The Markets Premium Content found on Seeking Alpha Marketplace:
- Amazon Is Seeing Bullish Betting, Suggesting 7% Increase
- The Week Ahead For 12.9.19 – Energy Stocks On Watch
- A Year-End Rally May Only Be Starting
- Stock Market Nearing Big Break Out
- Morning Commentary- 12.6.19 – Jobs Suggest Economy Reaccerlating
- Subscriber Mailbag- Finding Entry Points With The RSI
- S&P 500 Futures -2 points
- US 10-Year Yields 1.83%
- Dollar Index 97.57
- Oil $58.65
- Nikkei +0.33%
- China +0.08%
- HK -0.01%
- KOSPI +0.33%
- DAX -0.16%
- FTSE -0.09%
S&P 500 (SPY)
S&P 500 futures are pointing to a flat opening, and the market is currently hovering around 3,150. So we will need to wait and see how things move forward today. Again, I continue to think that this is a market that wants to go higher. – Morning commentary 12.9.19
Boeing’s price target was lower today to $419 from $445 at Cowen. The stock has been performing poorly and failed at resistance $368 and appears to be heading to $320.
Skyworks is moving higher this morning after BofA/Merrill upgraded the stock to Buy with a $122 price target. The stock is rising to $104, further moving it away from resistance at $100 and putting it on a path to go to $110.
Shopify is consolidating at resistance around $360. This region of supports needs to hold. If it does, the stock can move higher towards $385. The RSI trend is also changing direction to bullish from bearish.
Visa has been trending higher, and the RSI suggests the stock continues to rise. The next level of resistance comes around $189.
Unilever is approaching resistance at $60.20, and the RSI is turning in direction, a sign that shares are likely heading to $62.70.
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.