5 Trade Ideas for Monday: Fiserv, Louisiana-Pacific, Meta, Progressive and Summit Materials

• Posted by Greg Harmon
• on June 25th, 2023

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

Fiserv, Ticker: $FI

Fiserv, $FI, 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…..

Louisiana-Pacific, Ticker: $LPX

Louisiana-Pacific, $LPX, 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…..

Meta Platforms, Ticker: $META

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

Progressive, Ticker: $PGR

Progressive, $PGR, comes into the week breaking resistance. It has a RSI rising over the midline with the MACD climbing toward positive. Look for continuation to participate…..

Summit Materials, Ticker: $SUM

Summit Materials, $SUM, comes into the week breaking short term resistance. The RSI is in the bullish zone with the MACD flat and 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 5 trading days left in the second Quarter, saw equity markets take a break, pulling back following several strong weeks.

Elsewhere look for Gold to continue its pullback while Crude Oil drops in broad consolidation. The US Dollar Index continues in consolidation while US Treasuries also consolidate. The Shanghai Composite looks to continue the new short term move lower while Emerging Markets also term lower in the short term.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their SPY and QQQ charts look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY could have now reset on momentum measures as both were extended. The IWM had the worst week giving up nearly the entire move since the breakout and looking weak on both timeframes. 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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