5 Trade Ideas for Monday: Costco, Eaton, McKesson, Meta and Netflix

• Posted by Greg Harmon
• on November 12th, 2023

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

Costco, Ticker: $COST

Costco, $COST, 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…..

Eaton, Ticker: $ETN

Eaton, $ETN, comes into the week breaking resistance. The RSI is in the bullish zone with the MACD positive and climbing. Look for continuation to participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week breaking to an all-time high. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate….

Meta Platforms, Ticker: $META

Meta Platforms, $META, comes into the week breaking resistance. The RSI is in the bullish zone with the MACD positive. Look for continuation to participate…..

Netflix, Ticker: $NFLX

Netflix, $NFLX, comes into the week approaching 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 first full week of November in the books, saw midcap and large cap equity markets showed continued strength after a slow consolidating start.

Elsewhere look for Gold to continue its pullback while Crude Oil joins it with a turn to the downside. The US Dollar Index continues to drift in consolidation while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue its bounce as well while Emerging Markets consolidate.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts look strong, especially on the shorter timeframe. On the longer timeframe both the QQQ and SPY look to continue higher after breaking out of bull flags. The small cap IWM continues to languish on all timeframes though. 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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