Stocks Are Set To Fall On January 15

Jan. 15, 2020 6:53 AM ETBeyond Meat, Inc. (BYND), CSCO, MSFT, ROKU, SPY, TSM
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Growth, Long/Short Equity, Momentum, Macro

Contributor Since 2014

Mott Capital Management writes short-to-medium-term focused articles on where stocks may go. We do not write articles on investing for the long-term. In a typical article, we will tell readers where Mike thinks a stock may go over a short period of time. This allows readers to understand why a stock may be rising or falling based on an analysis of fundamental, technical, and options trading activity. 

We do not trade stocks for compliance purposes and to provide our readers with an unbiased opinion. Mike is a long-term growth investor and discloses if he holds a position in his long-only portfolio. 

JANUARY 15, 2020




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S&P 500 (SPY)

Stocks are setting up for a slightly lower opening on January 15. The S&P 500 futures are currently trading lower by 3.5 points. It follows what has generally been a lower overnight session across Europe and Asia. Again, there is not much that has changed for the futures or the cash market over the past several days.

Beyond Meat (BYND)

Beyond Meat is trading lower today after a pretty wild trading session on January 14. The stock appeared to have a blow-off momentum yesterday between the bump and run reversal pattern in the morning and the massive surge in volume. Now the short-term uptrend is breaking, and perhaps the momentum trade is broken, with shares falling back to $108, and possibly back to $100.

Of course, a downgrade by Bernstein Market Perform from Outperform with a $106 price target likely won't help either.

Roku (ROKU)

Roku continues to trend lower, and so does the RSI. The stock is likely setting up a move lower to around $116. The falling triangle looks very strong.

Taiwan Semi (TSM)

Taiwan Semi will report results tomorrow, and the pattern in the chart remains bullish with that rising triangle still in place. I still think there is a good chance it rises following results to around $64.

Cisco (CSCO)

Cisco has been consolidating nicely around this $48.20 region, and it about time for it break out of this range and move higher back to $50.25.

Microsoft (MSFT)

I wrote this article the other day for Forbes, noting some bullish option betting for Microsoft and the potential for shares to rally following results to around $177.

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 results.

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