5 Trade Ideas for Monday: Fidelity National, Marriott, McCormick, Oracle and Visa

• Posted by Greg Harmon
• on April 16th, 2023

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 breaking resistance. It has a RSI rising over the midline with the MACD approaching zero. Look for continuation to participate…..

Marriott International, Ticker: $MAR

Marriott International, $MAR, comes into the week at resistance. It has a RSI rising off the midline with the MACD crossed up. Look for continuation over resistance to participate…..

McCormick & Company, Ticker: $MKC

McCormick & Company, $MKC, comes into the week testing support. It has a RSI dropping out of overbought with the MACD rolling but positive. Look for a break of support to participate…..

Oracle, Ticker: $ORCL

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

Visa, Ticker: $V

Visa, $V, 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 heading into April options expiration week, saw equity markets showed resilience holding up despite a building narrative of a possible recession.

Elsewhere look for Gold to continue its uptrend while Crude Oil has a short term move higher in consolidation. The US Dollar Index continues to drift to the downside while US Treasuries pullback in their consolidation. The Shanghai Composite and Emerging Markets look to continue in consolidation.

The Volatility Index looks to remain low and stable making the path easier for equity markets to the upside. The charts of the SPY and QQQ remain strong on the longer timeframe while on the shorter timeframe both the QQQ remains in short term consolidation while the SPY is breaking higher. The IWM remains weaker holding in consolidation after a failed short term move 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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