5 Trade Ideas for Monday: Abbott Labs, Expedia, GE, Goldman and Honeywell

• Posted by Greg Harmon
• on August 25th, 2024

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Abbott Laboratories, Ticker: $ABT

Abbott Laboratories, $ABT, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Expedia, Ticker: $EXPE

Expedia, $EXPE, comes into the week rising to resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

GE Aerospace, Ticker: $GE

GE Aerospace, $GE, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a break over resistance to participate…..

Goldman Sachs, Ticker: $GS

Goldman Sachs, $GS, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Honeywell, Ticker: $HON

Honeywell, $HON, comes into the week rounding out a bottom. The RSI is at the midline with the MACD crossed up. Look for continuation to participate…..

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the Fed Jackson Hole meeting in the rear view mirror, equity markets continued their progress higher, shifting from the large caps and tech names to small caps Friday, but without a rotation this time.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a narrow range and at risk for a drop. The US Dollar Index continues to move to the downside while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue the downtrend while Emerging Markets may start a new uptrend.

The Volatility Index looks to remain low and stabilizing making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe, with the IWM joining the SPY and QQQ in that view. On the shorter timeframe both the QQQ and SPY are slowing down and watching the short term money flow into the IWM. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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