5 Trade Ideas for Monday: DexCom, eBay, Hormel, Schwab and Walmart

• Posted by Greg Harmon
• on June 11th, 2023

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

DexCom, Ticker: $DXCM

DexCom, $DXCM, comes into the week approaching resistance. It has RSI in the bullish zone with the MACD positive and climbing. Look for a push over resistance to participate…..

eBay, Ticker: $EBAY

eBay, $EBAY, 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…..

Hormel Foods, Ticker: $HRL

Hormel Foods, $HRL, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a move over resistance to participate…..

Charles Schwab, Ticker: $SCHW

Charles Schwab, $SCHW, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a move over resistance to participate…..

Walmart, Ticker: $WMT

Walmart, $WMT, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive and climbing. 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 heading into the June Options Expiration and the FOMC meeting, noted equity market strength as a change of leadership with rotation into the Large Caps and Small Caps at the expense of Tech names, but not sinking Tech stocks.

Elsewhere look for the supporting cast to remain in consolidation. Gold looks to continue its consolidation in a pullback while Crude Oil consolidates in a broad range. The US Dollar Index looks to pullback in consolidation while US Treasuries churn sideways. The Shanghai Composite looks to continue in a short term consolidation while Emerging Markets consolidate in a tight range.

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. The SPY joined the QQQ with a move over the August 2022 high, both at the highest level in over a year, and the IWM rising out of consolidation. On the shorter timeframe the QQQ has moved to consolidation in the uptrend while the SPY and IWM continue higher. 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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