5 Trade Ideas for Monday: Green Dot, Globus Medical, Howmet Aerospace, Kraft Heinz and Twitter

• Posted by Greg Harmon
• on November 22nd, 2020

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

Green Dot, Ticker: $GDOT

Green Dot, $GDOT, ran up to a consolidation zone this summer. It eventually broke to the upside and made a high in October. Now it has pulled back to that prior consolidation and the 100 day SMA and finding support. The RSI is rising in toward the bullish zone with the MACD crossing up but negative. Look for a continued move higher to participate…..

Globus Medical, Ticker: $GMED

Globus Medical, $GMED, rose to fill the gap down from January as it peaked in May. It has found resistance at that same level 4 times since and sits there now. The RSI is rising in the bullish zone with the MACD moving higher. Look for a push over resistance to participate…..

Howmet Aerospace, Ticker: $HWM

Howmet Aerospace, $HWM, jumped higher 2 weeks ago and has been consolidating since. The RSI is strong in the bullish zone with the MACD rising and bullish. Look for a break of consolidation higher to participate…..

Kraft Heinz, Ticker: $KHC

Kraft Heinz, $KHC, ran from a March low to a top in August. It rolled over from there, finding support in September. It has formed resistance since then and comes into the week pressed against it. The RSI is rising toward the bullish zone with the MACD lifting off of zero. Look for a push over resistance to participate…..

Twitter, Ticker: $TWTR

Twitter, $TWTR, ran from a bottom in March to a top at the end of October. It gapped down from there and found support at the 100 day SMA and bounced. It has consolidated under resistance since with the RSI rising in the bullish zone and the MACD about to cross up. 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 the shortened holiday weekend sees equity markets have paused to catch their breath.

Elsewhere look for Gold to continue in consolidation while Crude Oil continues a short term uptrend in a broad range. The US Dollar Index looks to consolidate at the bottom of a broad range while US Treasuries are showing a possible reversal higher. The Shanghai Composite looks to continue to mark time moving sideways while Emerging Markets move higher in an uptrend.

The Volatility Index looks to continue to drift lower making the path easier for equity markets to the upside. Their charts continue to look strong, especially on the longer timeframe as they hold at highs. On the shorter timeframe both the QQQ and SPY are in consolidation mode moving sideways while the IWM looks stronger moving up. 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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