5 Trade Ideas for Monday: Ambarella, First Solar, Home Bancshares, JB Hunt and PPG

• Posted by Greg Harmon
• on December 18th, 2022

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

Ambarella, Ticker: $AMBA

Ambarella, $AMBA, comes into the week pulling back from a gap up. It has a RSI in the bullish zone with the MACD rolling over. Look for continuation to participate. The fa….

First Solar, Ticker: $FSLR

First Solar, $FSLR, comes into the week moving lower. It has a RSI dropping in the bullish range with the MACD moving lower. Look for continuation to participate…..

Home Bancshares, Ticker: $HOMB

Home Bancshares, $HOMB, comes into the week bouncing higher. The RSI is oversold with the MACD negative and falling. Look for continuation to participate…..

JB Hunt Transportation, Ticker: $JBHT

JB Hunt Transportation, $JBHT, comes into the week moving lower. It has a RSI at the midline with the MACD positive. Look for continuation to participate…..

PPG Industries, Ticker: $PPG

PPG Industries, $PPG, comes into the week pulling back to support. It has a RSI falling through the midline with the MACD positive but falling. 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. This week’s list contains the first five below to get you started early. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the last FOMC meeting and Quad Witching done for the year, equity markets have resumed their moves lower.

Elsewhere look for Gold to consolidate in the uptrend while Crude Oil moves lower. The US Dollar Index continues the trend lower while US Treasuries stall in their short term uptrend. The Shanghai Composite looks to continue the short term uptrend while Emerging Markets consolidate in their short term move higher.

The Volatility Index looks to remain in the normal range making the path easier for equity markets to the upside. It also makes the Indexes more vulnerable to news based moves like we saw this week following the CPI report and FOMC meeting. Their charts showing that weakness from the short term view leaking into the longer term view now and the weekly pictures also roll over. On the shorter timeframe both the QQQ and IWM look vulnerable to a retest of the October low. The SPY looks slightly better, but only because it has further to go to retest it. 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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