5 Trade Ideas for Monday: AIG, Bristol-Myers, Freeport McMoRan, Goldman and Teck Resources

• Posted by Greg Harmon
• on February 27th, 2022

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

AIG, Ticker: $AIG

AIG, $AIG, comes into the week at a 3 year high. It has a RSI rising in the bullish zone with the MACD flat but positive. Look for a move over resistance to participate…..

Bristol-Myers Squibb, Ticker: $BMY

Bristol-Myers Squibb, $BMY, comes into the week at prior resistance. The RSI is holding in the bullish zone with the MACD flat but positive. Look for a push over resistance to participate…..

Freeport-McMoRan, Ticker: $FCX

Freeport-McMoRan, $FCX, comes into the week breaking resistance. It has a RSI rising in the bullish zone with the MACD positive and rising. Look for continuation to participate…..

Goldman Sachs, Ticker: $GS

Goldman Sachs, $GS, comes into the week rising off support. It has a RSI rising in the bearish zone with the MACD curling up towards a cross. Look for continuation to participate…..

Teck Resources, Ticker: $TECK

Teck Resources, $TECK, come into the week at resistance. it has a RSI rising in the bullish zone with the MACD turning to cross up. 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 with one trading day left in February saw equity markets showed late week strength overcoming a geopolitically driven sell off and ending at the highs Friday.

Elsewhere look for Gold and Crude Oil to possibly pause in their uptrends after printing reversal candles. The US Dollar Index continues to trend to the upside while US Treasuries trend lower. The Shanghai Composite looks to continue in broad consolidation while Emerging Markets remain in a downtrend.

The Volatility Index looks to remain elevated putting a headwind up against the equity markets’ nascent recovery. Their charts look hopeful on the shorter timeframe. On the longer timeframe both the QQQ and IWM still look weak in short term trends lower. The SPY looks the best holding at the lower end of a 19 month range. 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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