5 Trade Ideas for Monday: Freeport McMoRan, Global Payments, Royal Bank of Canada, Scott’s Miracle-Gro and Teck Resources

• Posted by Greg Harmon
• on December 26th, 2021

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

Freeport-McMoRan, Ticker: $FCX

Freeport-McMoRan, $FCX, comes into the week at resistance and rising. The RSI is rising and the MACD bullish. Look for a push through resistance to participate…..

Global Payments, Ticker: $GPN

Global Payments, $GPN, comes into the week after breaking resistance. The RSI is rising into the bullish zone with the MACD about to turn positive. Look for continuation to participate…..

Royal Bank of Canada, Ticker: $RY

Royal Bank of Canada, $RY, broke resistance Friday with the RSI rising toward the bullish zone and the MACD about to go positive. Look for continuation to participate…..

Scotts Miracle-Gro, Ticker: $SMG

Scotts Miracle-Gro, $SMG, comes into the week breaking resistance. It has a RSI moving into the bullish zone with the MACD rising and positive. Look for continuation to participate…..

Teck Resources, Ticker: $TECK

Teck Resources, $TECK, comes into the week breaking to a higher high. The RSI is rising to the bullish zone with the MACD positive and climbing. 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 only 1 week left in 2021, equity markets showed strength with a rebound from an ugly start.

Elsewhere look for Gold to continue its consolidation while Crude Oil drifts towards the top of a consolidation range. The US Dollar Index continues to consolidate in the uptrend while US Treasuries mark time sideways. The Shanghai Composite looks to continue in consolidation as well while Emerging Markets continue lower.

The Volatility Index looks to remain at normal levels making the path easier for equity markets to the upside. Their charts look strong, especially on the shorter timeframe. On the longer timeframe both the QQQ and SPY continue to show strength in consolidation, while the IWM flounders in the middle of the yearlong consolidation range. 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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