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October 1 – Stock mentions: SPY, AAPL, ACAD, AMD, NXPI, SQ
Michael Kramer and the clients of Mott Capital own ACAD, AAPL, NXPI
US Markets
- S&P 500 Futures +6.25 points
- US 10-year Yield 1.73%
- Dollar Index 99.47
- Oil $54.75
- VIX 16.31
International Markets
- Japan +0.59%
- South Korea +0.45%
- Shanghai -0.92%
- Hong Kong +0.53%
- Germany -0.15%
- UK -0.39%
MACRO
S&P 500 (SPY)
The S&P 500 is looking to start the day higher, but again, not much has changed since yesterday. Resistance still lives around 2985 for the index. Until the index manages to cross that level, any rally should be considered suspect.
STOCKS
Acadia (ACAD)
Acadia shares are rising after RBC started the stock as a buy with a $60 price target. The stock has come under some pressure recently, but a lot of that is due to the weakness that has been witnessed in the broader sector. A falling wedge has formed in the chart, which would suggest a reversal higher is likely on the way. Premium content: Why Semis And Biotech May Underperform In The Months Ahead – The first two weeks are free, and I won’t even ask why you canceled if you do.
NXP Semi (NXPI)
Keybanc upgraded NXP Semi today to an Overweight from Sector Weight with a $130 price target. For now, $115 is the next significant level of resistance.
Apple (AAPL)
Apple will try to take out its September highs of roughly $226; should that happen it will set up a retest of last year’s highs.
AMD (AMD)
AMD hasn’t looked particularly strong, resistance for the stock come at roughly $29.40.
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Square (SQ)
Momentum in Square is turning higher, and the stock is nearing a break out which could send shares higher towards $65.50.
Have a great day.
Mike
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Charts used with the permission of Bloomberg Finance L.P. 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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