5 Trade Ideas for Monday: ADP, Facebook, Global Payments, Union Pacific and Constellation Brands

• Posted by Greg Harmon
• on December 22nd, 2019

This weekend I had to travel to visit a sick friend. It was a blessing to be able to spend time with him and see him doing what he loves beyond markets, being with his family and singing. The time taken away means the trade ideas will be abbreviated this weekend. Hopefully that will make for more time for you to spend with your families this weekend.

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

ADP, Ticker: $ADP

ADP, $ADP, back at resistance. RSI: Bullish. MACD: Crossing up and positive. Look for break of resistance to participate…..

Facebook, Ticker: $FB

Facebook, $FB, back at July high just under all-time high as resistance. RSI: Bullish. MACD: Bullish. Look for break to new all-time highs to participate…..

Global Payments, Ticker: $GPN

Global Payments, $GPN, resuming uptrend. RSI: Bullish. MACD: Bullish. Look for continuation to participate….

Constellation Brands, Ticker: $STZ

Constellation Brands, $STZ, making higher high. RSI: Bullish. MACD: Toward positive. Look for continuation to participate…..

Union Pacific, Ticker: $UNP

Union Pacific, UNP, at resistance for 5th time. RSI: Bullish. MACD: Bullish. Look for break 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 shortened Christmas week, saw equity markets looking very strong, although the larger cap indexes were starting to get a bit extended.

Elsewhere look for Gold to consolidate under 1500 while Crude Oil digests in the uptrend. The US Dollar Index looks to continue to the upside in broad consolidation while US Treasuries continue their pullback. The Shanghai Composite looks to consolidate the recent move higher in a short term uptrend while Emerging Markets move higher around long term resistance.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts also look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY could us a reset on momentum measures as both are extended. If that happens it might be time for the IWM to take the lead. 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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