5 Trade Ideas for Monday: Conagra, CBOE, F5, JB Hunt and Nike

• Posted by Greg Harmon
• on November 5th, 2023

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

Conagra, Ticker: $CAG

Conagra, $CAG, comes into the week at resistance. It has a RSI rising through the midline with the MACD about to go positive. Look for a push over resistance to participate…..

CBOE, Ticker: $CBOE

CBOE, $CBOE, comes into the week at an all-time high. The RSI is in the bullish zone with the MACD positive. Look for continuation to participate…..

F5, Ticker: $FFIV

F5, $FFIV, comes into the week at resistance. It has a RSI rising at the midline with the MACD crossed up. Look for a break of resistance to participate…..

JB Hunt, Ticker: $JBHT

JB Hunt, $JBHT, comes into the week rising to resistance. It has a RSI rising with the MACD crossing up. Look for a break of resistance to participate…..

Nike, Ticker: $NKE

Nike, $NKE, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. 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 just 2 months left in the year, saw equity markets showing strength with a strong rebound after a weak October.

Elsewhere look for Gold to continue to consolidate at the highs while Crude Oil enters a short term downtrend. The US Dollar Index is in a possible reversal lower while US Treasuries bounce in their downtrend. The Shanghai Composite and Emerging Markets both look to continue their bounces in their downtrends.

The Volatility Index looks to remain low after a sharp reversal making the path easier for equity markets to the upside. Their charts also look strong, especially on the shorter timeframe with strong volume breakaway moves higher. On the longer timeframe both the QQQ and SPY are on the cusp of reversals while the IWM also looks strong. 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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