5 Trade Ideas for Monday: Alcoa, Cemex, PacWest Bancorp, Switch and Tractor Supply

• Posted by Greg Harmon
• on December 19th, 2021

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

Alcoa, Ticker: $AA

Alcoa, $AA, comes into the week breaking resistance. It has a RSI rising and bullish with the MACD positive and climbing. Look for continuation to participate…..

CEMEX, Ticker: $CX

CEMEX, $CX, comes into the week pressing to a higher high after a pullback. The RSI is rising towards the bullish zone with the MACD about to cross to positive. Look for continuation to participate…..

PacWest Bancorp, Ticker: $PACW

PacWest Bancorp, $PACW, comes into the week at the 200 day SMA after a pullback. The RSI is falling in the bearish zone with the MACD flat but negative. Look for a reaction to support to participate…..

Switch, Ticker: $SWCH

Switch, $SWCH, comes into the week pressing over resistance. The RSI is rising and bullish with the MACD crossing up and positive. Look for continuation to participate…..

Tractor Supply, Ticker: $TSCO

Tractor Supply, $TSCO, comes into the week pulling back from a new high. The RSI is also dropping with the MACD crossed down. 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 the December Quadruple Witching in the books, saw equity markets showing some weakness.

Elsewhere look for Gold to continue its consolidation while Crude Oil consolidates as well. The US Dollar Index looks to pause in the uptrend while US Treasuries consolidate. The Shanghai Composite looks to continue in consolidation as well while Emerging Markets continue to move lower.

The Volatility Index looks to remain in the normal range easing the pressure on equity markets. Their charts look vulnerable on the shorter timeframe. On the longer timeframe both the QQQ and SPY look stronger while all three, including the IWM, remain in consolidation. 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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