Top Trade Ideas - December 18th
After a monumental move in the markets last week, we prepared our market thoughts and ideas for the week ahead.
Last week saw plenty of events weigh in on the market. If you want a full summary of all that happened, you can read our rundown here. Equities rallied, the Dow Jones hit an all-time high, and bonds recovered further from 2023’s slump. It was a bullish week.
This week is lighter on the calendar, with the BoJ meeting as one of the few key events.
In G10 FX, markets whipsawed following a host of major central bank meetings to end the year. The net result was a weaker USD, with EUR and GBP stronger.
As always, let’s get right into our 10 watches and trade ideas ahead of a new week. All markets covered: Equities, Currencies, Indices and Commodities.
Last week we had plenty of great ideas, including a Tesla break higher, MYO (a small cap name) gaining 40%, CVNA rallying 35% higher from our entry, as well as our Russell and Dow Jones calls going several hundred percent.
C3.ai (NYSE: AI) has been a popular AI-themed name this year. It captured the euphoria and benefitted greatly as its small-cap drew a lot of attention.
Now, it looks like we may get a final play of the year on this name. Price is testing resistance of $31.75, a level that was previously support. Our upside watch is towards the level of support previously, around $37.
TRADE IDEA - AI LONG
Stop Loss: 29.00
Take Profit: 37.20
UnitedHealth Group (NYSE: UNH) is the largest weighting in the Dow Jones index. Looking at the performance of the DJI, you would have expected that UNH was rising to ATHs. But it is not.
In fact, it has been pulling back and now sits at a support zone. For us, we like this name long if it holds current levels. This could also act as a tailwind to keep the Dow Jones rallying higher after hitting a new high last week.
TRADE IDEA - UNH PULLBACK
Stop Loss: 520.00
Take Profit: 552.00
You can find the res of our ideas below by joining as a premium subscriber. We have plenty of great setups to share this week.