5 Trade Ideas for Monday:  Abbott Labs, Fortinet, IQVIA, Target and Valero

• Posted by Greg Harmon
• on March 13th, 2022

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

Abbott Laboratories, Ticker: $ABT

Abbott Laboratories, $ABT, comes into the week breaking support. It has a RSI falling in the bearish zone with the MACD negative and dropping. Look for continuation to participate…..

Fortinet, Ticker: $FTNT

Fortinet, $FTNT, comes into the week with a bearish engulfing candle, moving lower. The RSI is dropping in the bearish zone with the MACD negative and falling. Look for continuation to participate….

IQVIA, Ticker: $IQV

IQVIA, $IQV, comes into the week starting another leg lower from the top in December. The RSI is falling in the bearish zone with the MACD negative and falling. Look for continuation to participate…..

Target, Ticker: $TGT

Target, $TGT, comes into the week dropping from a lower high. The RSI is falling with the MACD level at zero. Look for continuation to participate…..

Valero Energy, Ticker: $VLO

Valero Energy, $VLO, comes into the week testing the February high. It has a RSI rising in the bullish zone and the MACD crossed up and positive. Look for a push higher 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, saw equity markets continue to show weakness in choppy trading. The coming week will likely be headline driven again with the Ukraine – Russia conflict and the FOMC meeting adding volatility.

Elsewhere look for Gold to continue its uptrend while Crude Oil pulls back in its uptrend. The US Dollar Index continues to move to the upside while US Treasuries pullback in their downtrend. The Shanghai Composite looks to have established a downtrend while Emerging Markets continue their move lower.

The Volatility Index looks to remain elevated making the path difficult for equity markets. Their charts look weak, especially the SPY and the QQQ on the longer timeframe. On the shorter timeframe both the QQQ and SPY are choppier. The IWM has held in consolidation on both timeframes, relative strength. 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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