5 Trade Ideas for Monday: Cleveland-Cliffs, Freeport-McMoRan, F5, Global Payments and McKesson

• Posted by Greg Harmon
• on March 14th, 2021

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

Cleveland-Cliffs, Ticker: $CLF

Cleveland-Cliffs, $CLF, started higher in October and continued to a peak in January. After a two-step pullback, it reversed and is now making a higher high. The RSI is rising into the bullish zone with the MACD about to go positive. look for continuation to participate…..

Freeport-McMoRan, Ticker: $FCX

Freeport-McMoRan, $FCX, has had a strong run higher since the Pandemic low. It made a top in February and pulled back to a higher low before reversing. It is now back near that top with the RSI rising in the bullish zone and the MACD about to cross up. Look for a move over the top to participate…..

F5 Networks, Ticker: $FFIV

F5 Networks, $FFIV, ran higher from a September low to a double top. After pulling back it found support and has been in consolidation the past month. Price ended Friday at the top of the range with the RSI rising and the MACD crossing up. Look for a push over resistance to participate…..

Global Payments, Ticker: $GPN

Global Payments, $GPN, made a high in December and then pulled back. It found support at the 200 day SMA and reversed. It comes into the week back near the high with the RSI rising in the bullish zone and the MACD positive and climbing. Look for a push higher to participate…..

McKesson, Ticker: $MCK

McKesson: $MCK, rose out of consolidation in November, topping out quickly. It has been in a higher consolidation since. The RSI is rising in the bullish zone with the MACD crossing up and positive as price hits the top of consolidation. Look for a push to a new high 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 March options expiration sees equity markets mixed with small caps and large caps looking strong but the heavily tech weighted Nasdaq looking weaker.

Elsewhere look for Gold to continue its pullback while Crude Oil continues to move higher. The US Dollar Index looks to pullback in the reversal higher while US Treasuries continue the downtrend. The Shanghai Composite is possibly reversing higher while Emerging Markets pullback in their uptrend.

The Volatility Index looks to remain low making the path easier for equity markets to the upside. The charts for SPY and IWM look strong, especially on the longer timeframe. On the shorter timeframe both are now making new highs signaling renewed short term strength. The QQQ is now the problem child with a series of lower highs signaling short term weakness, but with no real long term damage as yet. 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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