5 Trade Ideas for Monday: AbbVie, Conagra, Cullen/Frost, Northwest Bancshares and Sempra

• Posted by Greg Harmon
• on September 18th, 2022

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

AbbVie, Ticker: $ABBV

AbbVie, $ABBV, comes into the week crossing resistance. It has a RSI rising into the bullish zone with the MACD crossing to positive. Look for continuation to participate…..

Conagra, Ticker: $CAG

Conagra, $CAG, comes into the week reversing higher. It has a RSI moving back higher as well with the MACD falling and negative. Look for continuation to participate…..

Cullen/Frost Bankers, Ticker: $CFR

Cullen/Frost Bankers, $CFR, comes into the week clinging to support. It has a RSI falling in the bullish zone with the MACD curling to cross down. Look for a break of support to participate…..

Northwest Bancshares, Ticker: $NWBI

Northwest Bancshares, $NWBI, comes into the week at resistance. It has a RSI rising over the midline with the MACD curling to cross up. Look for a break of resistance to participate…..

Sempra, Ticker: $SRE

Sempra, $SRE, comes into the week pulling back from a higher high. The RSI is dropping in the bullish zone with the MACD crossing down. Look for continuation to participate…..

Up Next: Bonus Idea

The Best

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.   

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 week of the September FOMC meeting, saw equity markets had pulled the rug out from under traders, giving up the nascent reversal off the early September low and driving to new 2 month lows.

Elsewhere look for Gold to continue its pullback while Crude Oil continues to the downside as well. The US Dollar Index continues to trend to the upside while US Treasuries continue their downtrend. The Shanghai Composite looks to continue the short term move lower while Emerging Markets continue their downtrend.

The Volatility Index is slightly elevated and threatening to move higher, making the path easier for equity markets to the downside. Their charts look weak, especially on the longer timeframe following bearish engulfing weekly candles. On the shorter timeframe the IWM, the QQQ and the SPY all printed hammer candles for a possible reversal, but at a lower low and the lowest level in two months, negating the hope of a reversal.

Clearly Wednesday’s FOMC meeting will play a big role in whether markets continue towards a retest of the June lows or hang on and reverse higher. All 3 Index ETF charts are trading in lockstep. 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.

blog comments powered by Disqus