5 Trade Ideas for Monday: Alcoa, Salesforce, Honeywell, IBM and Sherwin-Williams

• Posted by Greg Harmon
• on March 20th, 2022

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

Alcoa, Ticker: $AA

Alcoa, $AA, comes into the week moving up with the RSI rising and bullish and the MACD curling back higher. Look for continuation to participate…..

Salesforce, Ticker: $CRM

Salesforce, $CRM, comes into the week moving up out of a falling channel. The RSI is rising into the bullish zone and the MACD is climbing toward zero. Look for continuation to participate…..

Honeywell, Ticker: $HON

Honeywell, $HON, comes into the week moving up off a February low. It has a RSI rising into the bullish zone with the MACD about to turn positive. Look for continuation to participate…..

IBM, Ticker: $IBM

IBM, $IBM, comes into the week moving over resistance. It has a RSI rising into the bullish zone and a MACD moving higher. Look for continuation to participate…..

Sherwin-Williams, Ticker: $SHW

Sherwin-Williams, $SHW, comes into the week moving up off a low. It has a RSI moving toward the midline with the MACD crossed up and climbing. 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 first Fed tightening and March Quadruple Witching behind, saw equity markets with renewed strength.

Elsewhere look for Gold and Crude Oil to pause in their uptrends. The US Dollar Index also looks to consolidate the recent gains while US Treasuries continue the downtrend. The Shanghai Composite looks to continue the trend lower along with Emerging Markets, although the latter might be ready for a reversal.

The Volatility Index looks to be easing from elevated levels making the path easier for equity markets to the upside. Their charts look strong on the longer timeframe. On the shorter timeframe both the QQQ and SPY are showing real promise as they finished at higher highs for the first time in 2022. The IWM also shows some promise as it tests resistance at the long term range. 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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