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May 1, 2019
Michael Kramer and the clients of Mott Capital own Apple, Skyworks, NXP
US Trading
- S&P 500 Futures +10
- US 10 Year 2.5%
- Oil $63.50
- VIX 12.90
- Dollar Index 97.35
International Trading
- Most major markets closed for May 1
Economics
- ADP Job Report +180K
- ISM Mfg. Index 55
- FOMC Rate Decision
US Markets
S&P 500 (SPY)
The stock market will try to resume its record gains today, and with the futures pointing to a higher, it seems it may be the case. 2,960 may be the next level of resistance for the S&P 500. It gets harder to figure these levels out daily given there are no overhead resistance levels. But I’m basing 2,960 off the channel the index has been rising in.
Apple (AAPL)
Apple is the big story this morning rising following results to around $212. The key here is that the stock is trading above resistance at $209. It sets up a move to about $217.
AMD (AMD)
AMD is also rising this morning following its results, and Cowen raised its price target on the stock to $36 from $33. The stock is hovering below crucial resistance at $29.40, should the stock rise above that level it has room to run to $31.50.
Nvidia (NVDA)
Nvidia is rising this morning along with AMD, and the next significant level of resistance comes around $185.25 with the potential for the stock to increase to about $198.
NXP Semi (NXPI)
NXP will try to rally again today following yesterday significant rise. The stock stalled out at resistance around $106 and could be on its way to $115.
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[youtube-feed feed=7]Skyworks (SWKS)
Skyworks, an Apple supplier, will report results tomorrow night and its next level of resistance comes around $93.70, with the potential to rise to about $100.
Square (SQ)
Square will report results tonight, but the chart suggests the stock may fall with the potential to around $65.50.
That’s it for the first day of May.
-Mike
Mott Capital Management, LLCÂ 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.
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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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