5 Trade Ideas for Monday: eBay, Gilead, Marathon Oil, Block and Valero

• Posted by Greg Harmon
• on January 22nd, 2023

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

eBay, Ticker: $EBAY

eBay, $EBAY, comes into the week at resistance. It has a RSI in the bullish zone and MACD positive. Look for a push over resistance to participate…..

Gilead Sciences, Ticker: $GILD

Gilead Sciences, $GILD, comes into the week falling to support. It has a RSI on the edge of the bearish zone with the MACD negative. Look for a drop through support to participate…..

Marathon Oil, Ticker: $MRO

Marathon Oil, $MRO, comes into the week moving toward resistance. It has a RSI rising with the MACD negative but rising. Look for a push over resistance to participate…..

Block, Ticker: $SQ

Block, $SQ, comes into the week at a 5 month high. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Valero Energy, Ticker: $VLO

Valero Energy, $VLO, comes into the week approaching the June high. 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 January options expiration in the books, saw equity markets showed resilience overcoming a strong move lower midweek.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a tight range. The US Dollar Index continues to drift to the downside while US Treasuries are trying to mount a short term uptrend. The Shanghai Composite is in a short term uptrend while Emerging Markets continue their trend higher.

The Volatility Index looks to remain stable in the normal range making the path easier for equity markets to the upside. Their charts also look strong on the shorter timeframe with the SPY, the QQQ and the IWM all approaching resistance. On the longer timeframe both the SPY and the QQQ are nearing a long term trend breakout with the IWM near a 5 month breakout. 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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