5 Trade Ideas for Monday: Allstate, Alphabet, Kraft Heinz, TJX and UPS

• Posted by Greg Harmon
• on March 24th, 2024

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

Allstate, Ticker: $ALL

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

Alphabet, Ticker: $GOOGL

Alphabet, $GOOGL, comes into the week approaching the all-time high. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Kraft Heinz, Ticker: $KHC

Kraft Heinz, $KHC, comes into the week rising toward resistance. It has a RSI moving up from the midline with the MACD crossed up. Look for a break of resistance to participate…..

TJX, Ticker: $TJX

TJX, $TJX, comes into the week moving toward the all-time high. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

United Parcel Service, Ticker: $UPS

United Parcel Service, $UPS, comes into the week pushing on resistance. It has a RSI in the bullish zone with the MACD positive. 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 March FOMC meeting in the books, saw equity markets showed strength moving higher despite the continued tone of rates staying higher for longer.

Elsewhere look for Gold to continue its consolidation in a bull flag at the highs while Crude Oil continues the messy uptrend. The US Dollar Index looks to drift to the upside in consolidation while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue the short term uptrend while Emerging Markets consolidate in a broad range.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe with the SPY at a weekly high and the IWM and QQQ consolidating the recent moves higher. On the shorter timeframe both the QQQ and SPY also look strong making fresh all-time highs Thursday before dropping toward filling gaps Friday on profit taking. The IWM looks to have established a higher 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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