5 Trade Ideas for Monday: Citigroup, Home Depot, KBR, Levi’s and Allscripts

• Posted by Greg Harmon
• on July 24th, 2022

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

Citigroup, Ticker: $C

Citigroup, $C, comes into the week stalling. it has a RSI pulling back from the bullish zone with the MACD positive and climbing. Look for continuation to participate…..

Home Depot, Ticker: $HD

Home Depot, $HD, comes into the week retesting the June high. The RSI is rising in the bullish zone with the MACD positive and climbing. Look for a push over resistance to participate…..

KBR, Ticker: $KBR

KBR, $KBR, comes into the week rising above prior resistance. The RSI is rising in the bullish zone with the MACD positive and moving higher. Look for continuation to participate…..

Levi Strauss, Ticker: $LEVI

Levi Strauss, $LEVI, comes into the week breaking resistance. It has a RSI deep in the bullish zone with the MACD positive and rising. Look for continuation to participate…..

Allscripts Health Solutions, Ticker: $MDRX

Allscripts Health Solutions, $MDRX, comes into the week curling back higher. It has a RSI rising towards the midline with the MACD moving up. Look for continuation 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 one week left in July, saw equity markets display a second straight week of highly positive correlation, but this time in a move up out of consolidation.

Elsewhere look for Gold to continue its pullback while Crude Oil pulls back in the uptrend. The US Dollar Index continues to pullback in its trend higher while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue the short term move lower while Emerging Markets continue in a downtrend. The Volatility Index looks to continue back towards normal levels making the path easier for equity markets to the upside.

Their charts are starting to look stronger as they move up out of consolidation, especially on the longer timeframe. All still have work to do before a full blown reversal can be called. On the shorter timeframe continuation of the moves by the IWM and SPY to fill the gaps and the QQQ higher, with momentum shifting into bullish ranges would get some cash off the sidelines. 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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