5 Trade Ideas for Monday: Coupa, Hormel, Horizon Therapeutics, Murphy USA and NetScout

• Posted by Greg Harmon
• on May 15th, 2022

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

Coupa Software, Ticker: $COUP

Coupa Software, $COUP, comes into the week bouncing higher with a bullish Marubozu candle. The RSI is also turning up and the MACD turning towards a cross up. Look for continuation to participate…..

Hormel Foods, Ticker: $HRL

Hormel Foods, $HRL, comes into the week rounding out of a pullback. It has a RSI moving up in the bullish zone with the MACD about to cross up and positive. Look for a push higher to participate…..

Horizon Therapeutics, Ticker: $HZNP

Horizon Therapeutics, $HZNP, comes into the week bouncing off of a new low. It has a RSI lifting out of oversold territory with the MACD turning toward a cross up. Look for a push over resistance to participate…..

Murphy USA, Ticker: $MUSA

Murphy USA, $MUSA, comes into the week at an all-time high. It has a RSI reset out of overbought with the MACD turning to cross up and positive. Look for a push over resistance to participate…..

NetScout Systems, Ticker: $NTCT

NetScout Systems, $NTCT, comes into the week printing a new high. It has a RSI rising in the bullish zone with the MACD positive and moving up. Look for a push higher to participate…..

Up Next: Bonus Idea

The Best

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.   

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 May options expiration week, saw equity markets showed a strong finish to a week that began really weak and fearful, giving hopes for the worst being over.

Elsewhere look for Gold to continue its pullback while Crude Oil consolidates for a possible move higher. The US Dollar Index continues to the upside while US Treasuries may see a bounce in their downtrend. The Shanghai Composite looks to continue the bounce in its downtrend while Emerging Markets continue to trend lower.

The Volatility Index looks to remain elevated making the path easier for equity markets to the downside. Their charts are set up for potential reversals on the longer timeframe, with Hammer candles after drops of over 30% for the IWM and QQQ, and almost 20% for the SPY. The daily charts are not convincing of a turnaround yet though with prior resistance closing in overhead. 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.

blog comments powered by Disqus