Trading Tips with Andy: Insight on Potential Market Picks – December 14

Trading Tips with Andy: Insight on Potential Market Picks – December 14

Dec 14, 2023

Hello to all the brilliant traders out there! This is Andy, coming to you with some trade ideas on this rather fantastic December 14th. As a Thursday rolls in, so does an astonishing flurry in the SPY. This is coupled, remarkable as it may seem, with another gapping up today. We’re just a couple of percentage points shy of our all-time highs. Truly mesmerizing stuff happening in the market lately!

While exciting, this market scenario does present a bit of a challenge when it comes to finding setups. In light of this, my game plan involves keeping an eye out for pullbacks. I am currently in a few positions and there are a few laggers I think you should consider.

Upwork

First off, let’s discuss Upwork—or as I playfully like to refer to it—Upwink. Now, while this one doesn’t have a history of particularly momentous movement, it’s nonetheless an interesting pick. Especially given its current positioning in a range that, if breached, could spell a significant upside. So keep a close eye and if we get above the $15 range, it could open the door to substantial gains.

Amazon: Moving or Not?

Next on the list is Amazon. Despite the absence of major moves from the big boys yesterday—it was primarily the Ark stocks and small-cap stocks capturing attention—I still fancy what I’m seeing with Amazon. Currently, it’s gapping up above yesterday’s highs—definitely one to watch alongside the other big players. I’ve got Microsoft on my radar for today, too.

Toast & PLTR: Room to Grow?

Continuing down the list, Toast comes up. It’s attempting to push past the 50-period moving average with a gap up to the 17.23 range that looks promising. I wager there’s still some opportunity in this one worth exploring.

Meanwhile, the somewhat messy chart of PLTR needs some attention, particularly if it breaks the ten-period moving average, around where it’s trading this morning. While I won’t go as far as terming this a setup, it’s easy to envision someone wanting to take a small position in something along these lines.

“Markets are complex, but your understanding of them can be simplified!

That wraps up some of the top contenders in my list today. I encourage you to keep an eye out—there’s certainly more potential picks sprinkled across the market. Remember, keep your trades tight, and make decisions that align with your individual strategy. I’ll touch base again tomorrow with more market insights. Until then, happy trading!