This Is Why Stocks May Continue To Rise on January 7

This Is Why Stocks May Continue To Rise on January 7

MICHAEL KRAMER AND THE CLIENTS OF MOTT CAPITAL OWN SHARES OF TSLA, GOOGL, AAPL

Good Morning Today is Monday, January 7

Recap of International Trading:

  • Hong Kong Hang Seng Index up 0.82%
  • Japan up 2.44%
  • China Shanghai Comp. up 0.72%
  • UK FTSE down 0.48%
  • Dax down 0.47%

S&P 500 (SPY)

Stocks are flat on the day but there is plenty of bullish news around today especially out of biotech was the JP Morgan Health Care conference kick’s – off.

Biotech (XBI)

Biotech stocks are getting a lift on some positive headlines. The XBI ETF is likely to rise to around $79.

biotech

Eli Lilly/ Loxo

Eli Lilly is buying Loxo Oncology for $8 billion or $235 per share. Loxo had been trading at $139.87 on Friday. The shares are trading higher to $221

loxo

Alphabet (GOOGL)

Pivotal Research upgraded Alphabet to buy from hold and placed a  $1240 price target on the stock.  A rise above $1,100 would trigger a breakout and a potential move to $1,175

alphabet, googl

Amazon (AMZN)

Pivotal also initiated coverage of Amazon with a $1920 price target. For now, resistance remains around $1620.

amazon, amzn

Salesforce (CRM)

Pivotal also upgrade Salesforce to buy with a $164 price target. Resistance comes around $149.

saleforce. crm

Tesla (TSLA)

Tesla broke ground in China to build its Giga factory and expects to start Model 3 production later this year.  The stocks next level of resistance will come around $340.

tesla, tsla

Apple (AAPL)

Apple will now offer iTunes Movies and shows on Samsung tvs. Apple has room to fill the gap at around $157.

apple, aapl

Exact Sciences

Exact Sciences is surging premarket after pre-announcing its fourth quarter guidance, raising revenue guidance to $143 million at the mid-point from $127.4 million. Should the stock increases above $68.25 it has room to go higher to around $70.

exact scieneces, exas

Sage Therapeutics (SAGE)

Sage is jumping by 33% today after the company reported positive data on its drug SAGE-217 in female patients with severe postpartum depression.  $140 is resistance for the stock.

sage

Micron (MU)

Micron Upgraded to Outperform from Market Perform at BMO. $34 is the next immediate level of resistance.

micron, mu

 

Mike

Photo Via Flickr

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