12/2 Best Idea For The Week Ahead

Today I have a near $200B company breaking out of a 2 year long base looking to make a substantial move higher, we’re going to go over the charts, the options flow, the analyst targets, and a potential trade to put on but first let’s talk about the overall market. The SPY closed yesterday up .5% and the RSP, below, the equal weight, closed up 1.5%. It seems like we are finally getting more buying in names besides big tech and that just hasn’t been the case all year. This is good to see as breadth has to expand, we’ve been buying the same 6 large caps all year long.

There are so many charts now that look great into year end, especially small caps, but I do try my best to make these weekly posts about high quality names that you can buy shares in and hold for an extended period if need be.