Hello, fellow traders! Andy here, from Trade Ideas, ready to serve up another batch of insights to navigate the market. The beautiful morning of December 13th shows an impressively gapping up market. Over the last month and a half or so, we’ve surely been motoring higher and higher. Yes, a remarkable sight, but let’s not get swayed by the momentum.

As a wise trader, I’m interested in setups, not necessarily chasing many stocks. So what do we have under the microscope today? The first on the list is a giant we all know – Amazon, and a few others such as Ally Financial and Neo, with RITM tucked into the mix. Let’s dive in!

Dissecting Potential Opportunities

Yesterday, I bought a stock around the 147 level, a beast in the market – Amazon. This stock hosts impressive potential. After moving sideways for about a couple of weeks, it’s on the brink of an explosive breakout since it’s right around a one-month high. Of course, as always, remember to tread cautiously!

Moving on to our next candidate – Ally Financial. The trend in the financial sector has been commendable in terms of resilience. What I noticed about Ally is its ability to pull up even after trying to sell-off, catching this ten-period moving average and holding above it. For that, I decided to place an alert to be notified if it takes out that four-day high. Now, it’s not certain where it stands in the pre-market. However, aligning your moves with the alerts can be a great real-time strategy.

Key Wisdom: To maximize your trading potential, try setting alerts on stocks you’re tracking. This helps you stay on top of market movements and make timely decisions.

Next, let’s visit Neo, a stock that deserves your attention. After several attempts to break below the 18, it has finally bounced back again, landing comfortably above the converging ten and 20-period moving averages, thereby offering a double support. For this one, it needs to break above at least the 1950 level. So sit tight, and keep an eye on how this pans out.

Finalizing the Day’s Review: RITM

RiTM has been on my radar for some time. It keeps it appeal by staying above the 1060 level. So swift action is advised here. RiTM has been setting up nicely, transitioning from a sideways movement to a launch pad at the ten-period moving average. Taking action around this area could initiate a breakout.

Wrapping Up

Well, that’s it for today, trading enthusiasts. As we progress further into December, don’t lose sight of all that you can achieve. Keep the preparation tight, stay focused, and adapt to change. As always, I’ll be here tomorrow with fresh trade insights and tips. Until then, maintain your momentum, embrace patience, and remember, every trade is a new learning experience.

Happy trading! See you tomorrow!