5 Trade Ideas for Monday: MongoDB, Bank OZK, PacWest Bancorp, Tandem Diabetes and Werner

• Posted by Greg Harmon
• on January 24th, 2021

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

MongoDB, Ticker: $MDB

MongoDB, $MDB, moved up out of a long consolidation in December. It quickly peaked and then pulled back through the 20 day SMA. It has reversed higher in January and is sitting against resistance as it comes into the week. The RSI is rising in the bullish zone with the MACD about to cross up. Look for a push over resistance to participate…..

Bank OZK, Ticker: $OZK

Bank OZK, $OZK, rose from a digestive consolidation in November. It continued to the current consolidation. The RSI is moving higher in the bullish zone with the MACD turning up to avoid a cross down. Look for a push over resistance to participate…..

PacWest Bancorp, Ticker: $PACW

PacWest Bancorp, $PACW, moved higher out of consolidation in November. it had a tight consolidation through the end of the year and then moved up again. Now it is pressing through resistance with the RSI rising and bullish and the MACD avoiding a cross down. Look for continuation to participate…..

Tandem Diabetes Care, Ticker: $TNDM

Tandem Diabetes Care, $TNDM, moved high from a March low to a top in October. It pulled back from there to the 200 day SMA where it is consolidating under resistance. The RSI is rising into the bullish zone with the MACD pushing to positive. Look for break over resistance to participate…..

Werner Enterprises, Ticker: $WERN

Werner Enterprises, $WERN, topped in August and then started to roll over. It spiked down at the end of October and then bounced into a consolidation. It broke that consolidation last week with the RSI rising and bullish and the MACD positive and moving higher. 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 one week to go in January, sees equity markets remaining strong.

Elsewhere look for Gold to possibly reverse higher out of its pullback while Crude Oil continues to move up. The US Dollar Index continues it downtrend while US Treasuries consolidate in their move lower. The Shanghai Composite looks to continue higher after making 5 year highs while Emerging Markets print all-time highs, not seem in over 13 years as they continue to move up.

The Volatility Index looks to remain low and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY have resumed their paths higher, while the IWM is taking a breather at new all-time highs. 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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