5 Trade Ideas for Monday:  AbbVie, Costco, GE, General Mills and Johnson & Johnson

• Posted by Greg Harmon
• on November 20th, 2022

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

AbbVie, Ticker: $ABBV

AbbVie, $ABBV, comes into the week breaking short term resistance. The RSI is rising and bullish with the MACD positive. Look for continuation to participate…..

Costco, Ticker: $COST

Costco, $COST, comes into the week at resistance. It has a RSI in the bullish zone and a MACD positive. Look for a push over resistance to participate…..

General Electric, Ticker: $GE

General Electric, $GE, 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….

General Mills, Ticker: $GIS

General Mills, $GIS, comes into the week approaching resistance. The RSI is in the bullish zone with the MACD crossing up. Look for a push over resistance to participate…..

Johnson & Johnson, Ticker: $JNJ

Johnson & Johnson, $JNJ, comes into the week breaking resistance. It has a RSI rising in the bullish zone with the MACD crossing 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 heading into the shortened Thanksgiving week and with November Options Expiration in the books, saw equity markets showed continued promise.  They held up after a very strong previous week and in the wake of the repercussions following a massive failure in the cryptocurrency space.

Elsewhere look for Gold to continue its short term reversal lower while Crude Oil consolidates in a downtrend. The US Dollar Index continues to pullback in the uptrend while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue the short term uptrend while Emerging Markets experience a stalled bounce in the downtrend.

The Volatility Index looks to continue towards normal levels making the path easier for equity markets to the upside. Their charts look decent on the shorter timeframe with wide paths higher in the SPY and IWM but a consolidation over prior resistance on the QQQ. On the longer timeframe the nascent moves higher are far short of confirming a reversal. Use this information as you prepare for the coming week and trad’em well.

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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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