5 Trade Ideas for Monday: Abbvie, Caterpillar, Capital One, Gilead and Home Depot

• Posted by Greg Harmon
• on November 24th, 2024

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

Abbvie, Ticker: $ABBV

Abbvie, $ABBV, comes into the week at resistance. It has a RSI rising toward the midline with the MACD curling to cross up. Look for a push over resistance to participate…

Caterpillar, Ticker: $CAT

Caterpillar, $CAT, comes into the week rounding higher. It has a RSI rising with the MACD positive and about to cross up. Look for continuation to participate..

Capital One Financial, Ticker: $COF

Capital One Financial, $COF, comes into the week moving back to resistance. The RSI is in the bullish zone with the MACD level and positive. Look for continuation to participate..

Gilead Sciences, Ticker: $GILD

Gilead Sciences, $GILD, comes into the week rising off a low. It has a RSI at the midline with the MACD positive. Look for continuation to participate…

Home Depot, Ticker: $HD

Home Depot, $HD, 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…

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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 heading into the Thanksgiving shortened holiday week, saw equity markets showing strength, recovering much or all of last week’s falls.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates at the bottom of a broad range. The US Dollar Index continues to drift to the upside while US Treasuries hold in consolidation. The Shanghai Composite looks to continue the short term move higher while Emerging Markets cling to support in the short term uptrend.

The Volatility Index looks to remain low and stable making the path easier for equity markets to the upside. Their charts look strong, especially the SPY and QQQ on the longer timeframe. On the shorter timeframe both the QQQ and SPY are working back higher but it is the IWM taking the lead with strength. 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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