5 Trade Ideas for Monday: Broadcom, Boeing, Hilton, Mastercard and UPS

• Posted by Greg Harmon
• on August 18th, 2024

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

Broadcom, Ticker: $AVGO

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

Boeing, Ticker: $BA

Boeing, $BA, comes into the week rounding up from a bottom. It has a RSI rising and a MACD crossed up. Look for continuation to participate…..

Hilton Worldwide, Ticker: $HLT

Hilton Worldwide, $HLT, comes into the week rounding out a bottom. It has a RSI rising through the midline with the MACD crossed up. Look for continuation to participate…..

Mastercard, Ticker: $MA

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

UPS, Ticker: $UPS

UPS, $UPS, comes into the week approaching resistance. It has a RSI at the midline with the MACD crossed up. 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 August options expiration in the books, saw equity markets show strength, continuing the climb out of July pullback.

Elsewhere look for Gold to continue its uptrend to new highs while Crude Oil consolidates in a tightening range. The US Dollar Index continues to move to the downside in consolidation while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue the short term trend lower while Emerging Markets have re-broken resistance and may start a new uptrend.

The Volatility Index looks to remain low after a rapid pullback to levels from 2 weeks ago making the path easier for equity markets to the upside. Their charts look strong, especially the SPY and QQQ on the longer timeframe. On the shorter timeframe both the QQQ and SPY will gain buyers on a move higher next week over short term resistance. The IWM is showing its own strength as well breaking back above long term resistance. 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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