5 Trade Ideas for Monday: Ashland, eBay, Johnson & Johnson, Northrop Grumman and Wells Fargo

• Posted by Greg Harmon
• on November 26th, 2023

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

Ashland, Ticker: $ASH

Ashland, $ASH, comes into the week breaking resistance. It has a RSI rising into the bullish zone with the MACD positive. Look for continuation to participate…..

eBay, Ticker: $EBAY

eBay, $EBAY, comes into the week breaking resistance. It has a RSI moving higher and a MACD about to be positive. Look for continuation to participate…..

Johnson & Johnson, Ticker: $JNJ

Johnson & Johnson, $JNJ, comes into the week breaking resistance. It has a RSI rising toward the bullish zone and a MACD moving higher. Look for continuation to participate…..

Northrop Grumman, Ticker: $NOC

Northrop Grumman, $NOC, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD crossing up. Look for a push over resistance to participate…..

Wells Fargo, Ticker: $WFC

Wells Fargo, $WFC, comes into the week at short term resistance. The RSI is 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 heading into the last week of November, saw equity markets continue to look strong and ready for more upside.

Elsewhere look for Gold to continue its short term move higher while Crude Oil bounces in the downtrend. The US Dollar Index continues the short term drift to the downside while US Treasuries bounce in their downtrend. The Shanghai Composite looks to stall in its bounce while Emerging Markets consolidate in a broad range.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. The charts of the large cap and tech indexes look strong, especially on the longer timeframe. On the shorter timeframe the QQQ has cleared a major hurdle, and the SPY could be next as it is not far behind. The IWM continues to remain stuck in consolidation but positive in the short run. 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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