5 Trade Ideas for Monday: Air Products, BorgWarner, Fastenal, Goldman Sachs and Jabil

• Posted by Greg Harmon
• on April 23rd, 2023

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

Air Products and Chemicals, Ticker: $APD

Air Products and Chemicals, $APD, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

BorgWarner, Ticker: $BWA

BorgWarner, $BWA, comes into the week pressing against resistance. It has a RSI rising toward the bullish zone with the MACD positive and climbing. Look for a push over resistance to participate…..

Fastenal, Ticker: $FAST

Fastenal, $FAST, comes into the week breaking resistance. It has a RSI in the bullish zone and a MACD positive and rising. Look for continuation to participate…..

Goldman Sachs, Ticker: $GS

Goldman Sachs, $GS, comes into the week breaking resistance. It has a RSI into the bullish zone with the MACD positive. Look for continuation to participate…..

Jabil, Ticker: $JBL

Jabil, $JBL, comes into the week dropping to support. It has a RSI in the bearish zone with the MACD negative. Look for a drop through support 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 the April options expiration in the books and heading into the heart of earnings season, saw equity markets showed a lack of energy churning in narrow ranges.

Elsewhere look for Gold to pause in its uptrend while Crude Oil pulls back in its consolidation in a broad range. The US Dollar Index continues to drift to the downside while US Treasuries pullback in broad consolidation. The Shanghai Composite looks to pullback while Emerging Markets consolidate in their downtrend.

The Volatility Index looks to remain low and stable creating a positive environment for equity markets to move the upside. Their charts have all transformed to some form of consolidation in the short term. On the longer timeframe both the QQQ and IWM are also in consolidation while the SPY still holds a small bias to the upside over stability. 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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