5 Trade Ideas for Monday: Baker Hughes, Citigroup, Cigna, Deere and J&J

• Posted by Greg Harmon
• on October 22nd, 2022

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

Baker Hughes, Ticker: $BKR

Baker Hughes, $BKR, comes into the week approaching resistance. It has a RSI rising in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Citigroup, Ticker: $C

Citigroup, $C, comes into the week approaching resistance. It has a RSI rising through the midline with the MACD moving higher. Look for a push over resistance to participate…..

Cigna, Ticker: $CI

Cigna, $CI, comes into the week at an all-time high. The RSI is rising and bullish with the MACD positive. Look for continuation to participate….

Deere, Ticker: $DE

Deere, $DE, comes into the week pushing through resistance. It has a RSI rising in the bullish zone with the MACD positive. Look for continuation to participate…..

Johnson & Johnson, Ticker: $JNJ

Johnson & Johnson, $JNJ, comes into the week approaching resistance. It has a RSI rising into the bullish zone with the MACD positive and 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 October options expiration in the books, saw equity markets showed strength to end the week, continuing higher off the new lows from last week.

Elsewhere look for Gold to continue hold at support in a pullback while Crude Oil consolidates in a downtrend. The US Dollar Index continues to hold at resistance in the uptrend while US Treasuries continue their downtrend. The Shanghai Composite looks to pause in its move higher while Emerging Markets continue their downtrend.

The Volatility Index looks to remain elevated but moving lower making the path easier for equity markets to the upside. Their charts are starting to look stronger, especially the SPY and QQQ on the weekly timeframe, but with IWM less strong. On the shorter timeframe they all still look a mess but with moves over the 20 day SMA giving hope a reversal is building. 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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