Hello Traders, Andy here from Trade Ideas! We are rounding up the week, with it being Friday, 8th December. This week, the stock market has seen a slight change, as evidenced by the jobs number that we just released. Though a gap down was noticeable in the spy, its significance isn’t weighty. We’ve held this up range for a couple of weeks now, hinting at the potential of an explosive move through the 460 down the line.

Eyeing some Strong Holds

Let’s have a look at specific stocks that seem to be setting themselves up quite nicely. Interestingly, the financial sector has held up quite boldly. Notably, here’s a peek at MasterCard, a stock that has been performing well so far.

You may consider putting an alert at around the level of 415 or 416 for MasterCard. It’s been holding strong.

Riding the 10-Period Moving Average

Another noteworthy stock is RITM. The group attached to this ticker is putting up an exquisite display of strength by holding the ten-period moving average rather solidly.

If you wish to take up a position, all you need to do is set the price alert for a break above that 1060 level.

The Annual Amazon Favourite

Who doesn’t appreciate Amazon, especially at this time of the year? Like clockwork, the tech behemoth has been going sideways for a few weeks now. Watch out, though; an explosive move might be in the offing, likely above the 149 level on Amazon.

Note: It’s Friday, so it’s advisable to tread lightly. Observe the market’s behaviour and adjust accordingly. For example, if the market takes out yesterday’s high, or if it drops to the ten-period moving average, you may consider adding to your position.

Wrapping Up

Looking at our list today, we’ve covered stocks like MasterCard, RITM, and Amazon. There are several others you may want to keep an eye on in your watch list. Remember, it’s sometimes tricky to predict the ‘winner’.

However, the golden rule remains: always keep it tight. We’ve had a nice run this week, and it being Friday, and after pocketing some handsome gains, you might want to think about reaping some profits.

So traders, stay vigilant, and we’ll catch up again next week, ready to brave another trading session. Until then, happy trading!

“The stock market is filled with individuals who know the price of everything, but the value of nothing.” ― Philip Fisher