5 Trade Ideas for Monday: Century Aluminum, Gilead, Interactive Brokers, 3M and Zillow

• Posted by Greg Harmon
• on March 10th, 2024

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

Century Aluminum, Ticker: $CENX

Century Aluminum, $CENX, comes into the week pushing up from support. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Gilead Sciences, Ticker: $GILD

Gilead Sciences, $GILD, comes into the week rounding out of a recent bottom. The RSI is rising with the MACD crossed up. Look for continuation to participate…..

Interactive Brokers, Ticker: $IBKR

Interactive Brokers, $IBKR, comes into the week pulling back from a top. It has a RSI dropping out of overbought territory with the MACD crossed down. Look for continuation to participate…..

3M, Ticker: $MMM

3M, $MMM, comes into the week rolling up out of a pullback. It has a RSI at the midline with the MACD rising. Look for continuation to participate…..

Zillow, Ticker: $Z

Zillow, $Z, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD slightly 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 March options expiration week, saw equity markets showed some fatigue.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a tighter range. The US Dollar Index looks better to the downside while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue the short term move higher while Emerging Markets move up in consolidation.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe, but with some indecision candles this week. On the shorter timeframe the IWM, the QQQ and the SPY all ended with some short term weakness. This could signal a correction through price or time. 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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