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Tesla’s Stock Nears A Tipping Point, Plus Apple Continues On Its Path To $300
MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF AAPL, TSLA, V, MA
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First a big thank you to MarketWatch for using yesterday’s blog as their call of the day!Â
S&P 500
It was a pretty dull day, and stocks were working nicely higher. Then news hit $200 billion worth of tariffs for China may be implemented next week. And well as one would expect the market sold off, finishing the day down about 45 bps on the S&P 500. Maybe it’s my imagination, but isn’t this like the same thing that we have talked about for months now? Should any of this be a shock at this point? Stupid if you ask me. They, as in the quants and HF’s, need to start reprogramming the Algo’s so that when the Algo’s scrape for headlines, the word tariff doesn’t trigger a sell-off. In my opinion, tariffs have been well telegraphed, and priced into the market. Today’s action was likely nonsense, and I doubt it last.
The S&P 500 stopped falling were it should around 2900.
Apple
Apple surged to $225 before pulling back some. The stock got a big boost around lunchtime after the company announced its iPhone unveil date to be September 12. Although Warren Buffet made some positive comments on CNBC about Apple, which doesn’t hurt either. The stock continues to act very well, and at this point, there may be much more upside. I wrote for Investopedia that some traders in the options market are looking for the stock to rise to about $250 by January.
Again, as I have said before, I believe Apple to be worth about 20 times 2020 earnings of $14.97 per share, which puts the stock at roughly $300. I base this off a thesis that as the services revenue continues to grow and becomes a big piece of total revenue, the stock will get further multiple expansion. Again, I spoke about this several weeks ago in the member section. Why Apple May Rise By 50%
Amazon
Amazon hit a high of just a bit more than $2,025 today, and now that will become a level of resistance for the chart, while the uptrend line becomes support around $1,950. No further updates on Amazon at this point.
Tesla
Tesla is finding support right where it should again, on the uptrend, using the Log chart. This has been a strong uptrend. As the trendline and resistance at $388 continue to come together, the closer the day comes until the stock sees a significant breakout, above $388. The relative strength index is still trending lower, but there are signs that trend is now starting to shift, suggesting a bullish divergence.
Interesting Tesla is also trading at nearly its lowest level on a one-year forward price to sales ratio in some time.
Fundamental Chart data by YCharts
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AMD
AMD continues to feel pressure, and the stock is retesting resistance and looks to be failing at it. I still think the stock works its way lower towards $21.
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Charts used with the permission of Bloomberg Finance L.P. 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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Charts used with the permission of Bloomberg Finance L.P. 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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Charts used with the permission of Bloomberg Finance L.P. 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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Square
Square continues to rip higher, and while there is no doubting Square is a strong growth story. Shares are now overbought and are trading at a very high PE, for that growth. But two companies that you need to pay attention or at least consider if you like Square are Visa and MasterCard. After all, what good is Square without Visa and MasterCard? Anyway, I talk about the importance of these two stocks in the e-commerce ecosystem and a whole bunch more today in the member video.  2 Stocks To Consider If You Like Square
Back tomorrow
Mike
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Michael Kramer is the Founder of Mott Capital and the creator of Reading the Markets.
2 Stocks To Consider If You Like Square
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Charts used with the permission of Bloomberg Finance L.P. 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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