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June 26, 2019 – Stock Mentions: SPY, MU, TSLA, BABA, INTC, QCOM
Michael Kramer and the clients of Mott Capital own TSLA
US Markets
- S&P 500 +15.5 points
- 10-Year US Yield 2.03%
- VIX 15.74
- Oil $58.84
- Dollar Index 96.27
International Markets
- Japan Nikkei -0.51%
- China Shanghai -0.19%
- Hong Kong HSI +0.13%
- South Korea Kospi +0.01%
- Germany Dax +0.60%
- UK FTSE +0.11%
Stocks For June 26
S&P 500 (SPY)
S&P 500 futures are trading higher on June 26 after Treasury Sec. Mnuchin made some positive comments on trade talks with China. It doesn’t sound like anything new to me. So be careful trading around this news.
There was a lot of damage down yesterday on the charts, and so today’s rally faces several challenges. You can see in the E-mini’s that there are now two downtrends and a resistance level at 2,943. It will not be easy to regain the positive momentum we saw last week.
Micron (MU)
Micron is spiking by about 10% following its results. However, the path higher is not easy from here, as MU needs to get over resistance at $36.40. I still believe MU can work towards $38.70.
Tesla (TSLA)
Tesla is continuing to battle resistance at $225 and may receive a boost after a “leaked” email shows the company is near a record quarter.
$225 is the battleground for TSLA because of resistance and the downtrend. However, we can see the falling wedge pattern, and that is a bullish reversal pattern. I continue to believe TSLA is heading towards $250 and potential higher.
Alibaba (BABA)
The Chinese Yuan has been strengthening in recent days, and that should be positive for Alibaba. BABA been consolidating nicely around $166 and could be on its way back to $179.
Intel (INTC)
Intel appears it too is getting ready to break out and rise towards $49.
Qualcomm (QCOM)
QCOM continues to work its way towards $76.50
Good Luck today!
-Mike
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. June 26June 26
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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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