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This Is Why Stocks May Continue To Rise on January 7

This Is Why Stocks May Continue To Rise on January 7

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

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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

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