5 Trade Ideas for Monday: AbbVie, Amgen, GE, Honeywell and Walmart

• Posted by Greg Harmon
• on December 11th, 2022

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

AbbVie, Ticker: $ABBV

AbbVie, $ABBV, comes into the week pulling back from an overbought condition. The RSI is falling in the bullish zone with the MACD rolling towards a cross down. Look for continuation to participate…..

Amgen, Ticker: $AMGN

Amgen, $AMGN, comes into the week dropping through support. It has a RSI falling at the midline with the MACD dropping but positive. Look for continuation to participate…..

General Electric, Ticker: $GE

General Electric, $GE, comes into the week approaching support. It has a RSI falling in the bullish zone with the MACD dropping but positive. Look for a drop through support to participate…..

Honeywell, Ticker: $HON

Honeywell, $HON, comes into the week pulling back to support. It has a RSI dropping in the bullish zone with the MACD falling. Look for a fall through support to participate…..

Walmart, Ticker: $WMT

Walmart, $WMT, comes into the week dropping to support. It has a RSI falling through the midline with the MACD dropping and positive. Look for a fall through support 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 December options expiration, saw equity markets have rolled again, threatening to reverse their short term uptrends.

Elsewhere look for Gold to continue its short term uptrend while Crude Oil continues the downtrend. The US Dollar Index has found short term support in its downtrend while the US Treasuries short term uptrend has stalled. The Shanghai Composite looks to continue its short term move higher while Emerging Markets consolidate in their move higher.

The Volatility Index remains in the normal zone but higher making the path slightly more difficult for equity markets to the upside. Their charts look stronger on the longer timeframe, especially the SPY and QQQ, but with bits of weakness showing up. On the shorter timeframe the IWM is leading a reversal lower while the QQQ and SPY hold over support for now. 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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