5 Trade Ideas for Monday:  Ashland, Boeing, Bristol-Myers, CBOE and Target

• Posted by Greg Harmon
• on February 5th, 2023

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

Ashland, Ticker: $ASH

Ashland, $ASH, comes into the week heading towards support. It has a RSI falling with the MACD negative and falling. Look for continuation to participate…..

Boeing, Ticker: $BA

Boeing, $BA, comes into the week pulling back to support. It has a RSI dropping with the MACD moving lower. Look for a drop through support to participate…..

Bristol-Myers Squibb, Ticker: $BMY

Bristol-Myers Squibb, $BMY, comes into the week breaking above resistance. It has a RSI rising and MACD moving up. Look for continuation to participate…..

Cboe Global Markets, Ticker: $CBOE

Cboe Global Markets, $CBOE, comes into the week at short term resistance. It has a RSI rising and a MACD crossing up. look for a push over resistance to participate…..

Target, Ticker: $TGT

Target, $TGT, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push through 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 first month of the year in the books with positive performance, statistically the prospects for a positive year are good, while near term markets also look strong.

Elsewhere look for Gold to pause in its uptrend while Crude Oil drops to the low end of the consolidation range. The US Dollar Index looks to pause in the downtrend while US Treasuries consolidate in their bounce off lows. The Shanghai Composite looks to pause its uptrend while Emerging Markets may pause their move higher as well.

The Volatility Index looks to remain normal and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe with the SPY confirming an intermediate term uptrend while the IWM and QQQ have established short term uptrends and are closing in on the intermediate term. On the shorter timeframe the SPY, IWM and QQQ all moved back within the Bollinger Bands Friday to ease tight momentum. 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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