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September 16 – Stock mentions: SPY, BKNG, CVX, TSLA, ROKU, AMD
Michael Kramer and the client of Mott Capital own TSLA
US Markets
- S&P 500 Futures -12 points
- US 10-Year Treasury 1.85%
- VIX 15.11
- Dollar Index 98.44
- Oil $60.14
International Markets
- Japan Nikkei +1.05%
- HK HSI -0.83%
- Shanghai -0.02%
- South Kospi +0.64%
- Germany DAX -0.51%
- FTSE -0.14%
Macro
Oil
Oil prices are rising today following the drone attacks. However, at the moment prices are well below resistance level at $61.70. So we can continue to watch, I don’t expect the prices to stay at these levels above $60 for too long.
S&P 500 Futures (SPY)
I know futures are down, but I don’t expect this to be a big down day, not based on international trading. I think it is more likely the markets finish higher today. S&P 500 futures have recovered mainly a good portion of their losses from overnight, and the trend for the market is still mostly higher.
Stocks
Booking (BKNG)
Booking is nearing a big level of resistance at $2,080. I think an increase above that level can get the stock moving back to its all-time highs.
Chevron (CVX)
Chevron is rising today up to resistance at $127.25. Be careful; the stock has failed at that price three times since late 2018.
Tesla (TSLA)
Tesla is consolidating nicely just below resistance at $253 and could be gearing up for a test of resistance at $261.
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[youtube-feed feed=7]Roku (ROKU)
Roku is trading down this morning and nearing support at $143. A drop below that support level sets up that next leg lower.
AMD (AMD)
AMD continues to look very weak, and I continue to believe that the stock is likely heading lower. A drop below $29.40 could result in a decline to around $27.25. Premium content: first two weeks are free – AMD Stock Is Looking Very Weak
Have a good 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.