Stocks To Watch – 12/26/2023
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
The SPY got a nice pop last Wednesday making its way over the $475 mark before pulling back a bit. With the last trading week of the year at hand, will we see all time highs again before 2024? We’ll be keeping a close eye on the action and continue to send our members the best setups we find!
For the first time in quite a while we have no companies scheduled to report earnings this week. Aslo having a short week right after the holiday, there is not much on the docket for economic reports either. Look for job numbers, Retail and wholesale inventories and pending home sales to have some effect on the market on Thursday.
Recent Winners Tracking
BABA…72% from 12/14
CRSP…180% from 12/13
AMZN…146% from 12/12
ARKK…88% from 12/8
AAPL…82% from 12/5
TWLO…309% from 12/4
U…225% from 11/28
*Max gain potential on options alerted so far/before expiration
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Weekly Learning Focus
Having a strong 💪 intuition can help one achieve many things in life‼️ All master traders possess a great intuition, that they had to develop over the span of their life… Here’s a helpful infographic that can help one learn how to develop a strong trading intuition 💎
Traders MUST make & execute 🪓 trades in market that’s always throwing curveballs ⚾ Much like battle, making decisions in the heat 🔥 of the moment is what separates leaders from the followers 🐺
1️⃣ DETERMINATION – Three main qualities (AMC) Ambition, Motivation, Commitment. These qualities allow discipline to shine ✨ when trading. Discipline is key! Discipline is result of your true willingness to succeed. ❤️🔥
2️⃣ COMPREHENSION – Having rules and being able to stick to them. With time these rules become your psyche 🧠 and trades are executed with precise rules. Doing this doesn’t allow your mind to play tricks on your trades 🃏
3️⃣ INQUISITIVENESS – You must have a burning desire to learn and understand at a higher level. Spend your energy wisely ⚡ and direct it wisely! There’s too many distractions & decision fatigue sets in when trying to inject it all 😵💫
4️⃣ COOL COMPOSURE – We are humans not robots 🤖 however, it’s possible to keep emotion in check. Don’t be the one who panics, throws tantrums or fester in doubt 🚫 Have a consistent calm, collected composure while in a market always in flux ♻️
^ Combine these and have a clear mind to be able to tackle trading with vision, accept uncertainty, know when to reverse course when conditions change ^
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Market Brief
S&P 500 ETF (Ticker: SPY) – Weekly Chart
Opened last week at: $470.98
Hit a weekly high of: $475.90 on Wed 12/20
Hit a weekly low of: $467.82 on Wed 12/20
Closed the week at: $473.65
The SPY was able to cross over the $475 mark last week before pulling back and bouncing between the $470 and $475 levels. If bulls get behind this one, we could have a chance to see new all time highs ($479.98) in the final week of 2023. Look for a break and hold over $475.90 for confirmation.
If the SPY fails to get over the $475.90 mark, we could see a test of support around $470.50. If the market remains heavy look for a further slide to the $463.75 level.
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.
Apple Inc. (Ticker: AAPL) – Daily Chart
Staple name to watch as this comes off the new all time high and $200 area test. Watch as this pulls back to the $192/$190 spot for bounce back to retest the all time high and $200 level for a breakout. If $192/$190 fall, a breakdown to at least $188/$187.50, then below is possible.
Wayfair Inc. (Ticker: W) – Daily Chart
Putting in an escalator move after a gap up. There seems to be a bid here as this treks towards the $70 spot. Over $70 this becomes a potential continuation and breakout candidate for a $74/$75 level resistance retest. If $62/$63 area can’t hold, this could slip back to $60 or lower.
Carvana (Ticker: CVNA) – Daily Chart
Amazing range on this ticker as it’s currently trading off a recent high move. Look for this to flag/consolidate over $52.50/$50 for the next possible leg up. If $50 gets heavy, a move back into the $40’s range is possible. Eyes on scanners & sweeps in the Trading Room for heavy activity.
SOS, RIOT, BTBT – Daily Charts
A couple lower priced crypto names that certainly carry more risk and volatility. These are names that could continue to see buyers flood in as crypto prices hold steady. MARA and COIN also good to watch.
Dollar General (Ticker: DG) – Daily Chart
An interesting chart that could see some upside action. Look for $133.50 as a possible trigger for a breakout to test the $130 range to A$140. Over $140 there’s a gap fill range back over +$150. If $130/$128 cannot support, then a breakdown is likely through the $120’s. DLTR another ticker to watch that has been on a great trend, and poses as a trend join opportunity.
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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