September 24 – Stock mentions: SPY, NFLX, BB, AAPL, GOOGL, SNAP
Michael Kramer and the clients of Mott Capital own NFLX, AAPL, GOOGL
- S&P 500 +9 points
- 10-Year 1.69%
- Dollar Index 98.53
- VIX 14.6
- Oil $58.00
- Japan +0.09%
- Shanghai +0.28%
- KOSPI +0.45%
- Hong Kong +0.22%
- Germany +0.03%
- UK -0.36%
S&P 500 (SPY)
The S&P 500 futures are pointing to a higher opening today on headlines that trade talks will resume in two weeks. For now, the trend in the market is lower and will need to get above 3030 to break that trend and to avoid the potential double top pattern that may be forming.
SNAP is trading higher today after Guggenheim upgraded the stock to buy from neutral. The next significant level of resistance comes around $18.50.
Blackberry could never get beyond the downtrend, and the stock now is moving sharply lower following dissappointing results. The stock needs to stay above $6.70 to aviod an even further decline to $5.80.
Apple is rising after Jefferies upgraded the stock to buy from hold. Resistance for the stock is around $222.50.
Netflix had its price target slashed at Pivotal research to $350 from $515. The stock needs to bounce off this uptrend to avoid a decline to the December lows.
Alphabet saw its price target increased by RBC, with the price target going to $1,500 from $1,425. The stock continues to work its way higher towards $1,270.
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