5 Trade Ideas for Monday: Alcoa, Amgen, American Express, Caterpillar and Cummins

• Posted by Greg Harmon
• on April 2nd, 2023

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

Alcoa, Ticker: $AA

Alcoa, $AA, comes into the week breaking resistance. It has a RSI rising toward the midline with the MACD crossed up. Look for a break higher to participate…..

Amgen, Ticker: $AMGN

Amgen, $AMGN, comes into the week running up to resistance. It has a RSI heading to the bullish zone with the MACD positive and climbing. Look for a break of resistance to participate…..

American Express, Ticker: $AXP

American Express, $AXP, comes into the week up against resistance. It has a RSI rising at the midline with the MACD crossing up. Look for a push over resistance to participate…..

Caterpillar, Ticker: $CAT

Caterpillar, $CAT, comes into the week against resistance after a retest at the 200 day SMA. The RSI is rising and the MACD crossed up. Look for a push over resistance to participate…..

Cummins, Ticker: $CMI

Cummins, $CMI, comes into the week near resistance. It has a RSI rising above the midline with the MACD crossed 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 the first Quarter of 2023 in the books, saw equity markets showed strength as they closed out with a strong move to the upside.

Elsewhere look for Gold to continue its consolidation in the uptrend while Crude Oil continues a short term move higher. The US Dollar Index continues to move to the downside while US Treasuries consolidate after the long move lower. The Shanghai Composite looks to continue in consolidation while Emerging Markets join in with their own consolidation.

The Volatility Index looks to remain in the normal range and stable making the path easier for equity markets to the upside. Their charts are mixed, with the SPY and QQQ looking strong on both the short and long timeframe. The IWM however remains in consolidation. 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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