5 Trade Ideas for Monday: Fidelity National, Knight-Swift, Meta, Packaging Corp and Sealed Air

• Posted by Greg Harmon
• on January 7th, 2024

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

Fidelity National Information Services, Ticker: $FIS

Fidelity National Information Services, $FIS, 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….

Knight-Swift Transportation, Ticker: $KNX

Knight-Swift Transportation, $KNX, comes into the week reversing higher. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Meta Platforms, Ticker: $META

Meta Platforms, $META, comes into the week moving higher. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Packaging Corp of America, Ticker: $PKG

Packaging Corp of America, $PKG, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Sealed Air, Ticker: $SEE

Sealed Air, $SEE, 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…..

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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 first week of January in the books, saw equity markets had retrenched, seeing some profit taking into the New Year.

Elsewhere look for Gold to pause in its uptrend while Crude Oil pauses in its move lower. The US Dollar Index continues to drift to the downside while US Treasuries pullback in their uptrend, potentially in a reversal. The Shanghai Composite looks to continue the trend lower while Emerging Markets consolidate in a broad range. 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 on the longer timeframe after a digestion week in long uptrends. On the shorter timeframe the IWM, QQQ and SPY could have reset momentum measures lower in the bullish range and moved price back below the 20 day SMA for the first time in a while. If this was just a momentum reset, then it has gone far enough to watch for a reversal. If it continues then deeper moves may attack the bullishness of the longer term charts. 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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