Advertisements
Model 3

Tesla Set Up To Rise, Discretionary Stocks Nearing Breakout, Biotech Bottom Closer

Tesla Showing Signs of Strength

Advertisements

Tesla shares are showing some significant signs of improvement on a technical basis. Tesla’s has held up relatively well around the $300 level over the past couple of days, and that should be viewed as encouraging for the bulls. Additionally, Tesla’s chart below shows volume has been declining, which also suggest the massive amounts of turnover we saw immediately after the quarterly results are settling down as well.

Tesla

The chart could point to a stock that rises over the near-term as well, with a gap that needs to be filled around the $325 region.

Biotech

Biotech shares have continued to struggle, but signs are emerging that a bottom could be near. The chart shows that the IBB ETF has found some support around the $309 level, thus far.

IBB Biotech

When taking a closer look at some of the significant components, we can see shares of Biogen continue to hold the $308 level.

Meanwhile, shares of Amgen are also attempting to put in a bottom and appear to be moving towards the stocks longer-term uptrend.

amgn

With Gilead trying to do the same.

GILD

Overall these three stocks have a tremendous amount of importance for the sector and the ETF, so where they go, the rest will follow. If they are bottoming or close to bottoming it could suggest a much-needed rebound is on the way.


Two Week Free Trial Period

Also, remember to sign up for our SA Market Place Premium Content in “Reading The Markets” 

Premium Content: Benefits include the ability to reach out to Mike with questions through a chat room, direct message, or comments. 

We will respond to questions in short order and will respond to questions with full-post or video segment, just not one or two-word answers. 

Just $40 per Month

Disney Is Just Too Cheap

Techmagaden

Acadia’s Post Earnings Analysis + OIL Breaks Out

Analysis Of Acadia’s Phase II Data, Plus QCOM/AVGO

NXP Would Benefit From Broadcom Buying Qualcomm


Advertisements
Consumer Discretionary Stocks

The consumer discretionary ETF XLY Is sitting at a significant resistance level at the moment. Should the price for the discretionary ETF be able to rise above the $92.75 level, it would suggest a breakout.  Given the trend, a  breakout seems likely, one that is undoubtedly worth watching and waiting to develop.

consumer discretionary stocks

Amazon is the most critical component in the discretionary ETF XLY with nearly 17.25 percent weighting, where Amazon goes the rest of the sector follows. The chart of Amazon, concerns me a great deal though, with that huge gap in the chart from its earnings results date, a period of sideways consolidation would be welcomed.

amazon

Advertisements
Financials

Financials have been getting hammered of late, with the XLF fall from roughly $26.80 to $26 over the past few days. Overall the ETF has room to fall to nearly $25.50.

 

Advertisements

 

What is the best feature about these commentaries

View Results

Loading ... Loading ...

Free Articles Written By Mike: 

McDonald’s and Starbucks: A Case of Perception Vs. Reality

Nvidia Traders Expect More Gains for the Stock

Biotech Celgene Could Rebound By More Than 15%

Exxon, Chevron, and Oil Are Breaking Out

Costco Could Break to New Highs

Why Nvidia’s Stock Faces A Growth Crisis

Why Big Tech Stocks May Be Headed For A Steep Pullback

Disney’s Investors Suddenly Envision A Streaming Empire

Micron Could Rise At Least 15%, Options Trades Show

Broadcom’s Bid Could Spark A Wave of Chipmaker Takeovers

SNAP’s Stock Rebound Could Last If It Fires Up Growth

Apple Crushed 4Q Earnings, Chip Suppliers To Benefit

Elliot Management Steps Up Efforts to Raise NXP Bid Price

Chipotle Shares Could Fall 20 Percent Further

Broadcom’s Raised Forecast Is Great News For Chip Stocks

Starbucks 4Q Earnings Could Surprise Investors

Apple Shares Are Set Up For Post-Earnings Fall

Apple’s Chip Suppliers Are Breaking Out

Amazon, Alphabet And Microsoft Simply Crushed It

Why Mastercard’s Stock Could Rise 15%

Why Amazon’s Earnings Aren’t As Strong As They Look

Qualcomm Deal With NXP Will Eventually Get Done – M…

Celgene and Biogen May Be Signalling A Biotech Bottom

AMD Could Rise 10% Despite Results, Trades Indicate

Why Tesla’s Stock Is Breaking Down

Why Is McDonald’s Valued Like a Big Tech Stock?

Why Biogen May Sink Biotech Sector As Earnings Beat

Netflix Stock Likely to Rise as EPS Estimates Jump

Bank of America Could Rise Nearly 50%: Technical Analysis

AMD Could Break Out After Results

Qualcomm’s Bid For NXP Still Lacks Investor Support

Celgene’s Sharp Sell-Off Is Likely Overdone

Procter & Gamble Continues To Have Two Big Problems

GE: Getting Excited For The Future

Why IBM’s Big Stock Rally Won’t Last

Allergan Shares On The Verge Of Further Breakdown

Advertisements
We offer a lot of great commentaries all week talking about the major and relevant market events. Be sure to subscribe to get this all and of all free commentaries sent directly to your inbox or follow us on Twitter.

-OR-

 

Michael Kramer and the clients of Mott Capital own shares of TSLA,

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.

© 2017 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.[/vc_column_text][/vc_column][/vc_row]

Advertisements

Economics Calendar:


Economic Calendar by TradingView

Economic Snapshot:

Advertisements