5 Trade Ideas for Monday: Citigroup, Discover, Hilton, Valero and Zscaler

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

Citigroup, Ticker: $C

Citigroup, $C, comes into the week pushing up to resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Discover Financial, Ticker: $DFS

Discover Financial, $DFS, comes into the week pushing on resistance. It has a RSI in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

Hilton Worldwide, Ticker: $HLT

Hilton Worldwide, $HLT, comes into the week at resistance at an all-time high. The RSI is in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Valero Energy, Ticker: $VLO

Valero Energy, $VLO, comes into the week at short term resistance. It has a RSI rising off the midline with the MACD crossed up. Look for a push over resistance to participate…..

Zscaler, Ticker: $ZS

Zscaler, $ZS, 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…..

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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 2nd Quarter of 2024 in the books and heading into the holiday shortened week, saw equity markets showing resilience with a rebound from a pullback and large caps and tech names holding at the highs.

Elsewhere look for Gold to continue its consolidation after the record move higher while Crude Oil consolidates in a broad range. The US Dollar Index continues the short term move to the upside while US Treasuries continue in their secular downtrend. The Shanghai Composite looks to continue the downtrend while Emerging Markets consolidate under long term resistance.

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. On the shorter timeframe both the QQQ and SPY are showing signs of a possible reset on momentum measures as both are extended. The IWM continues to lag in a long term channel. 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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