5 Trade Ideas for Monday: Analog Devices, Broadcom, First Solar, Intuitive Surgical and Manitowoc

• Posted by Greg Harmon
• on March 12th, 2023

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

Analog Devices, Ticker: $ADI

Analog Devices, $ADI, comes into the week pulling back to support. The RSI is dropping in the bullish zone with the MACD positive and falling. Look for a drop through support to participate…..

Broadcom, Ticker: $AVGO

Broadcom, $AVGO, comes into the week at support. It has a RSI in the bullish zone with the MACD positive. Look for a break of support to participate…..

First Solar, Ticker: $FSLR

First Solar, $FSLR, comes into the week stalling in a move higher. The RSI is dropping in the bullish zone with the MACD level and positive. Look for a drop to participate..

Intuitive Surgical, Ticker: $ISRG

Intuitive Surgical, $ISRG, comes into the week at support. It has a RSI in the bearish zone with the MACD negative. Look for a drop through support to participate…..

Manitowoc, Ticker: $MTW

Manitowoc, $MTW, comes into the week dropping from a high. It has a RSI falling with the MACD crossed down. 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 heading into March options expiration, saw equity markets register their worst week in months.

Elsewhere look for Gold to continue its move higher and possibly out of consolidation while Crude Oil consolidates in a tightening range. The US Dollar Index looks to continue in consolidation while US Treasuries rise in their consolidation. The Shanghai Composite looks to pause in its uptrend while Emerging Markets trend lower.

The Volatility Index is now slightly elevated and looks to move higher making the path more difficult for equity markets to the upside. Their charts look damaged on the shorter timeframe, with the IWM looking similar to capitulation. On the longer timeframe the QQQ is holding up the best but looks better to the downside with the SPY and IWM nearing a test of the December low. If that happens the young uptrends are in jeopardy. 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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