5 Trade Ideas for Monday: Exelixis, Graco, Okta, Olin and Twilio

• Posted by Greg Harmon
• on December 13th, 2020

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

Exelixis, Ticker: $EXEL

Exelixis, $EXEL, spiked to a top in September and then steadily plodded lower over the next 3 months. It consolidated there for 3 weeks and is now breaking resistance to the upside. The RSI is rising into the bullish zone with the MACD rising but still negative. Look for continuation to participate…..

Graco, Ticker: $GGG

Graco, $GGG, started up out of consolidation and over the 200 day SMA in July. It has continued higher since. It comes into the week cracking resistance with the RSI rising in the bullish zone and the MACD crossing up and positive. Look for continuation to participate…..

Okta, Ticker: $OKTA

Okta, $OKTA, had a steady move higher from the March low and topped in October. After falling it back it found support and reversed to retest the high. The RSI is rising into the bullish zone with the MACD positive and moving up. Look for a push over resistance to participate…..

Olin, Ticker: $OLN

Olin, $OLN, started to move higher in October and has continued. It comes into the week at 20 month highs with the RSI strong in the bullish zone and the MACD about to cross up and positive. Look for continuation to participate higher…..

Twilio, Ticker: $TWLO

Twilio, $TWLO, pushed above the 200 day SMA and then gapped up. it continued to an August high before digesting and then resumed to a top in October. After a pullback it is at that top again. The RSI rising in the bullish zone with the MACD lifting and positive. Look for a new high 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 December options expiration and the last full week of trading this year, sees equity markets have tapped the brakes after strong moves higher.

Elsewhere look for Gold to continue its pullback while Crude Oil pushes slowly to the upside. The US Dollar Index continues to drift lower while US Treasuries continue to trend lower. The Shanghai Composite looks to have fallen back into broad consolidation while Emerging Markets trend higher.

The Volatility Index looks to remain low but with a bias toward rising putting an obstacle in the path 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 have started what are now minor pullbacks with the IWM holding tough at the highs in consolidation. 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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