Stocks To Watch – 12/11/2023
Brief Overview
Hello Traders & Investors,
Scroll down to see the stocks we have on watch this week 
We’re back to another Weekly Market Brief & Watch List
December is heating up with the SPY closing in on all time highs! Will we see a break of the $479.98 level in 2023? We’ll be watching the market closely for any action to alert to our members.
Some notable economic data being reported on CPI, Federal Budget, job numbers and retail sales numbers. We will also see earnings from ORCL, ADBE, COST and a few others.
Recent Winners Tracking
TWLO…75% from 12/4
U…74%from 11/28
LMND…117%from 11/20
Z…344% from 11/17
PLTR…88% from 11/14
CVNA…34% from 11/7
M…347% from 11/7
CRM…1392% from 11/3
MARA…421% from 11/2
*Max gain potential on options alerted so far/before expiration
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Weekly Learning Focus
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Market Brief
S&P 500 ETF (Ticker: SPY) – Weekly Chart
Opened last week at: $455.60
Hit a weekly high of: $460.75 on Fri 12/8
Hit a weekly low of: $454.31 on Wed 12/6
Closed the week at: $460.20
Holding over the $460 level last week, the SPY has March/April 2022 highs in its sights. If this bullish action continues we could see all time highs (+$479.98) into the end of the year for a possible repeat of Dec 2021 > early Jan 2022 action. Look for resistance around the $462.50 level.
If the market get heavy and we see some selling into the end of the year, look for support at the $455 > $453 area. If these levels break and hold, we could see a further slide to test $450 and possibly $440.
Charts Provided By: Finviz
Most Anticipated Earnings Releases This Week
Source: Earnings Whispers
Weekly Stocks to Watch
Here’s some of the stocks we have on watch for the beginning of the week…
As always, we’ll be heavily focused on our news feeds & scanners for prime opportunities throughout the week.
Advanced Micro Devices Inc. (Ticker: AMD) – Weekly Chart
Huge move last week, hitting a high of $131, expect to see more upside. All over the Trading Room Scanners. AMD may see consolidation / buys over $125. Bullish sentiment for us. Look for continuation to $145 range as a target for longs.
Carvana (Ticker: CVNA) – Daily Chart
Watching for breakout potential over $40. Will be checking the Trading Room Scanners and Sweep activity for confirmation. Look support $40 – $37.50. A move to $50+ may come quickly.
Amazon (Ticker: AMZN) – Weekly Chart
We want to make sure this has our full attention as AMZN finds its price at a spot of interest. $147-150 has been a strong level of support in the past. However, it’s been resistance for the past years. There may be some chop, due to the resistance it’s facing. But we are looking for a breakout to $160 over $150, especially if SPY keeps pushing upwards to it’s ATH in the final weeks of 2023.
Costco Wholesale Corp. (Ticker: Cost) – Weekly Chart
Want to highlight COSTCO hitting all time highs. Look for more upside and a move into blue skies this upcoming week with a breakout over $613.61. Obviously a more expensive name, but if there’s a breakout shorter dated expiration plays with targets of $615 – $620+ may work quickly (ideal for smaller accounts).
We have many other names on watch and we’ll continue to monitor our breaking news feeds and stock & option scanners to help make the smartest picks with the most potential throughout the week!
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