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Hot Stocks to Watch in December 2023 – SPY Stock Analysis

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Welcome back, and thank you for joining me in another video. In today’s episode, we’ll be delving into some exciting stock opportunities for the upcoming week. Whether you’re inclined towards bullish or bearish trades, we’ve got you covered. Let’s dive right in.

Market Overview: SPY and SPX Trends

First, a quick look at the broader market, where SPY and SPX have been steadily ascending. The weekly trend indicates a seven-week upward trajectory, signaling robust bullish momentum. However, with extended green bars, a brief pullback might be on the horizon. Caution is advised, especially for those newer to trading.

Stock Picks: Riding the Momentum

  1. DocuSign (DOCU): Breaking out impressively, DOCU exhibits a clear, clean chart pattern. The recent earnings push, combined with improved profitability, positions the stock for potential gains. A slight pullback to the $50 level for a retest seems likely, offering an attractive entry point.
  2. Advanced Micro Devices (AMD): A powerhouse in the chip sector, AMD has shown strength, breaking through resistance levels. The recent pullback sets the stage for a retest around $165. AMD’s overall trajectory appears bullish, presenting clear skies ahead.
  3. Lyft (LYFT): Similar to DOCU, Lyft showcases a breakout pattern after a period of sideways consolidation. Volume is picking up, providing additional confirmation of positive momentum. Lyft’s move looks promising, especially with increased market interest.
  4. Capital One Financial (COF): Exhibiting strength in recent weeks, COF presents an impressive chart. Multiple resistance points are being breached, hinting at potential further upside. Rising volumes enhance the likelihood of sustained bullish momentum.
  5. Oracle Corporation (ORCL): Bucking the trend, ORCL faces a substantial decline post-earnings. Hovering around the $100 mark, a shorting opportunity might arise if the support is breached. A more extended decline to $80 could open doors for strategic buying.

Closing Thoughts: Charting Opportunities and Staying Informed

As we navigate the diverse landscape of these hot stocks, strategic planning is key. Whether you’re eyeing short-term gains or planning for a more extended hold, understanding the charts and market dynamics is crucial.

Engage and Stay Updated:

Feel free to drop your preferred tickers in the comments for future analyses. Your engagement is valuable, and your chosen stocks will be reviewed in upcoming videos. Don’t forget to explore additional resources, including free webinars, on trading webinars for continuous learning.

Until Next Time, Happy Trading!

Thank you for tuning in, and I look forward to our next market exploration. Stay informed, stay strategic, and may your trades be prosperous. Take care!

In this class we will focus at looking at the technicals, learning about charts, how to check for support resistance, strength of the move, indicators, understanding price movements, ABCD patterns, and more! Ready to take your technical analysis to the next level? ​

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