5 Trade Ideas for Monday: Dollar General, Huntington Bank, Hilton, McKesson and Schwab

• Posted by Greg Harmon
• on February 18th, 2024

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

Dollar General, Ticker: $DG

Dollar General, $DG, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Huntington Bancshares, Ticker: $HBAN

Huntington Bancshares, $HBAN, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD crossed up. Look for a break over resistance to participate…..

Hilton Worldwide, Ticker: $HLT

Hilton Worldwide, $HLT, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive and about to cross up. Look for a push over resistance to participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week reversing out of a pullback. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Charles Schwab, Ticker: $SCHW

Charles Schwab, $SCHW, comes into the week at resistance. It has a RSI at the midline with the MACD crossed up. 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 February options expiration in the books, saw equity markets showing signs of stalling with momentum divergences in the SPY and QQQ.

Elsewhere look for Gold to continue in consolidation while Crude Oil consolidates in a broad range. The US Dollar Index continues to drift to the upside over support while US Treasuries continue their downtrend. The Shanghai Composite looks to re-open and continue the downtrend while Emerging Markets consolidate near long term resistance.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts continue to look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY seeing a negative divergence on momentum measures which could resolve with a pullback. If that happens it might be time for the IWM to take the lead, and it has been teasing to the upside. 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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