5 Trade Ideas for Monday: Amgen, Cirrus Logic, Roblox, Sempra and UnitedHealth

• Posted by Greg Harmon
• on July 17th, 2022

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

Amgen, Ticker: $AMGN

Amgen, $AMGN, comes into the week approaching resistance. It has a RSI rising towards the bullish zone with the MACD positive and climbing. Look for a push over resistance to participate…..

Cirrus Logic, Ticker: $CRUS

Cirrus Logic, $CRUS, comes into the week at resistance. It has a RSI rising toward the bullish zone with the MCD crossed up. Look for a push over resistance to participate…..

Roblox, Ticker: $RBLX

Roblox, $RBLX, comes into the week approaching resistance. It has a RSI rising in the bullish zone with the MACD positive and climbing. Look for a push over resistance to participate….

Sempra, Ticker: $SRE

Sempra, $SRE, comes into the week approaching resistance. It has a RSI rising towards the bullish zone with the MACD positive and moving up. Look for a push over resistance to participate…..

UnitedHealth, Ticker: $UNH

UnitedHealth, $UNH, comes into the week approaching gap resistance. The RSI is rising in the bullish zone with the MACD moving higher. 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 July Options Expiration in the books, saw equity markets showed some resilience with a rebound from an ugly start to finish only slightly lower as 2nd Quarter earnings season opens.

Elsewhere look for Gold to continue its short term downturn while Crude Oil consolidates in an uptrend. The US Dollar Index continues in an uptrend nearing 20 year highs while US Treasuries consolidate in their downtrend. The Shanghai Composite continues a short term downward move while Emerging Markets trend lower.

The Volatility Index looks to remain slightly elevated but moderating taking some of the pressure off equity markets. Their charts have moved to consolidation on both the shorter and longer timeframe, with the indexes exhibiting a very strong correlation. On the longer timeframe the SPY remains the strongest with the least retracement and smallest pullback from the highs with the QQQ next by virtue of its distance above the 200 week SMA and then the IWM. 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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