5 Trade Ideas for Monday: Alcoa, Cleveland-Cliffs, Honeywell, Meta and Visa

• Posted by Greg Harmon
• on March 5th, 2023

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

Alcoa, Ticker: $AA

Alcoa, $AA, comes into the week at resistance. It has a RSI rising in the bullish zone with the MACD positive and moving higher. Look for a break of resistance to participate…..

Cleveland-Cliffs, Ticker: $CLF

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

Honeywell, Ticker: $HON

Honeywell, $HON, comes into the week reversing higher. It has a RSI also rising with the MACD crossing up. look for continuation to participate…..

Meta Platforms, Ticker: $META

Meta Platforms, $META, comes into the week rounding higher. It has a RSI in the bullish zone with the MACD turning up. Look for continuation to participate…..

Visa, Ticker: $V

Visa, $V, comes into the week rounding higher. It has a RSI rising and a MACD turning to cross 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 with February in the books, saw equity markets show some strength with a rebound from a pullback following Fed comments.

Elsewhere look for Gold to continue its short term rise while Crude Oil consolidates in a tight range. The US Dollar Index shifts into consolidation in its bounce while US Treasuries consolidate in a broad range. The Shanghai Composite looks to continue the move higher while Emerging Markets show hints of a continuation of the uptrend from the October low.

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 looking stronger, especially on the shorter timeframe. On the longer timeframe the IWM, the QQQ and SPY all remain in bull flags looking positive. 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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