Greetings traders! It’s Andy with trade ideas, your go-to source for unique and actionable market intelligence. December 28, as we head towards the year’s end, the markets appear to remain buoyant. With just a few trading days left, I’m picking up on some interesting patterns and setups worth exploring. Let’s dive right into it.

CURRENT MARKET TRENDS

One peculiar yet common situation we’re encountering is that numerous stocks are seemingly stuck in the same robust pattern, showing little to no change.

While this might seem out of the ordinary, it could potentially lead to a scenario where we see consistent movements right up until the market closes on the final trading day (Friday, in this case). Thereafter, it’s entirely plausible we could see an end-of-year surge towards all-time highs.

“The markets continue to levitate, leaving several stocks unchanged yet prepared for potential spikes.”

STOCK SETUPS TO WATCH

Considering these market trends, my current focus is primarily on some China-based stocks that have emerged strikingly due to an overnight gap. The Asian market’s strength explains this interest in particular.

1. Neo

Neo is a stock that’s piqued my interest for a while now, given its compelling “go-pause-go” setup. The impressive volume bar day, followed by an inside spinning top, has set the stage for exciting possibilities.

A push above yesterday’s high and a subsequent breach of the past three days’ high might propel Neo towards the gap. It’s a stock to watch!

2. Lee

Next up, we have Lee, another China-based stock that shows potential. It’s currently gapping up above some resistance, which increases its appeal, combined with my stake in it. The key to this stock lies in its ability to maintain the 50-period moving average. The green light might be a close above this line to add more to the position.

3. Ally

Shifting focus, Ally, a banking stock, also exhibits compelling signs of strength. The only catch here is that these setups have been on the simmer for weeks without showing any major action. However, the rising bank trend might just be waiting for the right opportunity to show its potential.

4. Peloton

Lastly, there’s Peloton. Although it’s currently not doing much, its setup suggests a potential major move, making it worthy of keeping on your market radar. So, set your price alerts and stay tuned for any significant activity!

By keeping a close eye on these setups and understanding the market dynamics, we can prepare ourselves to ride the ensuing tides. Remember that trading is all about being alert and agile, ready to adapt at a moment’s notice.

In closing, stay glued to this space for more stock picks and trading ideas each day. If you’re already an active participant in the trade ideas community, these setups will be visible on the platform. To all the market watchers and traders – let’s make the market our playground! Here’s hoping you have a great trading day, and until we meet again tomorrow, trade safe!