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Swing Trade Ideas – December 15, 2020

Market View

In the premarket world markets are broadly positive with USA green, Europe green, Japan green, Hong Kong green, China green and Asia mixed. US dollar is flat to down so not impacting this morning. Yield curve is slightly steeper which is positive for financials and equities.  The USA large cap and small cap indices are positive and balanced which opens the potential for a trend day up should they not sell the market on the open.  As usual the FAANGM stocks are key to the larger market. AAPL has announced a 30% iPhone ramp which has lifted the stock and will lift the semi suppliers and the tech industry in general.  AMD price target raised to $110 by GS which is lifting the stock and with bolstering the Semi sector in the premarket. Reopening and reflation stocks are also positive in the premarket which points to a broad breadth at the open.

Premarket names:

AAPL 30% iPhone production increase;  AMD target raise watch Semis MU NVDA SMH;  LITE upgrade ; EV Alt Energy  PLUG RIDE LI FCEL BLDP; Bitcoin RIOT MARA MSTR 

Stock Idea; AAPL

AAPL has broken out on the hourly chart on news that iPhone production will be 30% higher. It is extended in the premarket but one could look for a dip at open for a day trade long off VWAP with caveat that QQQ must continue to be strong after the open.