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June 11 – Stock Mentions: SPY, INTC, AVGO, MU, AAPL, AMZN
Michael Kramer and the clients of Mott Capital own AAPL stock
US Markets
- S&P 500 Futures +14 points
- US 10-Year 2.17%
- Dollar Index 96.76
- Oil $53.64
- VIX 15.59
International Markets
- China Shanghai +2.58%
- Hong Kong HSI +0.76%
- Japan Nikkei +0.33%
- South Korea KOSPI +0.59%
- Germany DAX +1.32%
- UK FTSE +0.49%
S&P 500 (SPY) Pointing to Higher Opening on June 11
The S&P 500 is pointing to a higher opening again on June 11. For now, the SPY ETF is trading back to yesterday’s highs, and if the rally holds, it seems that 291.50 is the next level of the ETF to reach.
10-Year
The 10-year US Treasury is rising above resistance at 2.14%, and that could be setting up an increase to 2.31% over the next few weeks. The overall trend is still lower, so this rise in yields seems more like a bounce than a change of direction.
Intel (INTC)
Intel has started showing significant improvements in recent days and it begins to look as if INTC can rise to around $50.70.
Broadcom (AVGO)
Broadcom will report results later this week, and the stock is nearing a potentially big break out at $290. It may be setting up an increase in AVGO to around $307.
Micron (MU)
Micron is also on the move higher on June 11, and $36.40 appears to be the level that MU is heading too. A rise above $36.40 could be creating an opportunity for further increase, as it would likely form a bullish double bottom technical pattern.
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[youtube-feed feed=7]Apple (AAPL)
Apple tried to and failed to break out yesterday. But today AAPL will again get the opportunity to challenge resistance at $195. $199 will be the level to look for if Apple can get above $195 today, which I think it will.
Amazon (AMZN)
Amazon is rising again this morning, and $1905 seems more and more likely with the potential to increase to around $1966. Premium content: Why Tesla And Amazon May Rise Further
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.