5 Trade Ideas for Monday: Alkermes, Citigroup, Caterpillar, Neogen and EchoStar

• Posted by Greg Harmon
• on September 22nd, 2024

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

Alkermes, Ticker: $ALKS

Alkermes, $ALKS, comes into the week testing resistance. It has a RSI rising in the bullish zone with the MACD positive. Look for a solid break of resistance to participate…..

Citigroup, Ticker: $C

Citigroup, $C, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD rising near zero. Look for a push over resistance to participate…..

Caterpillar, Ticker: $CAT

Caterpillar, $CAT, comes into the week approaching the all-time high. It has a RSI in the bullish zone with the MACD rising. Look for a new high to participate…..

Neogen, Ticker: $NEOG

Neogen, $NEOG, comes into the week testing resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

EchoStar, Ticker: $SATS

EchoStar, $SATS, comes into the week in consolidation. It has a RSI in the bullish zone with a MACD positive. Look for a break up from consolidation 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 September FOMC meeting and Options Expiration, saw heading into the last full week of September, equity markets showed strength following the FOMC’s first rate cut in 4 years.

Elsewhere look for Gold to continue its uptrend while Crude Oil bounces in its downtrend. The US Dollar Index continues to hold lower in consolidation while US Treasuries are failing at levels that could reverse to an uptrend. The Shanghai Composite looks to continue the bounce in  the downtrend while Emerging Markets rise in consolidation.

The Volatility Index looks to remain low and stabilizing making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe with the SPY making a new all-time high Thursday, breaking a range.  The IWM and QQQ are holding up on the edge of a range break to the upside. On the shorter timeframe the SPY is also strong with the IWM and QQQ building momentum as price reaches the August highs. 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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