5 Trade Ideas for Monday:  Freeport-McMoRan, GE Aerospace, Goldman Sachs, McKesson and NVIDIA

• Posted by Greg Harmon
• on April 28th, 2024

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

Freeport-McMoRan, Ticker: $FCX

Freeport-McMoRan, $FCX, comes into the week rising toward resistance. It has a RSI in the bullish zone with the MACD leveling and positive. Look for a push over resistance to participate…..

GE Aerospace, Ticker: $GE

GE Aerospace, $GE, comes into the week at resistance at a 16 year high. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Goldman Sachs, Ticker: $GS

Goldman Sachs, $GS, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Mckesson, Ticker: $MCK

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

NVIDIA, Ticker: $NVDA

NVIDIA, $NVDA, comes into the week pushing up out of a bull flag. It has a RSI rising toward the bullish zone with the MACD curling to cross up. 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 just 2 trading days left in April, saw equity markets show some resilience with a rebound from their first 5% or more pullbacks this year.

Elsewhere look for Gold to continue its uptrend while Crude Oil pauses in its move higher. The US Dollar Index continues to drift to the top of consolidation while US Treasuries resume their downtrend. The Shanghai Composite shifts into short term consolidation while Emerging Markets consolidate near the top of a broad range.

The Volatility Index looks to remain low making the path easier for equity markets to the upside. The SPY and QQQ charts look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY as well as the IWM are working on reversing their pullbacks. 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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