5 Trade Ideas for Tuesday: Citigroup, Capital One, ConocoPhillips, GE and Gilead

• Posted by Greg Harmon
• on January 2nd, 2023

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

Citigroup, Ticker: $C

Citigroup, $C, comes into the week pressing on resistance. It has a RSI rising at the midline with the MACD crossing up. Look for a push over resistance to participate…..

Capital One, Ticker: $COF

Capital One, $COF, comes into the week testing resistance. It has RSI rising at the midline with the MACD crossed up. Look for a push over resistance to participate…..

ConocoPhillips, Ticker: $COP

ConocoPhillips, $COP, comes into the week at resistance. It has a RSI rising at the midline with the MACD negative but rising. Look for a push over resistance to participate…..

General Electric, Ticker: $GE

General Electric, $GE, comes into the week pressing at resistance. It has a RSI holding over the midline with the MACD crossing to positive. Look for a push over resistance to participate…..

Gilead, Ticker: $GILD

Gilead, $GILD, comes into the week at resistance. It has a RSI turning back up with a MACD leveling after a pullback. Look for a push through resistance 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 2022 in the books, saw equity markets had their worst year since 2008 and the 7th worst in the last 96 years. Good Riddance 2022!

Elsewhere look for Gold to potentially build an uptrend while Crude Oil moves in a short term uptrend. The US Dollar Index continues in a downtrend while US Treasuries resume their downtrend. The Shanghai Composite looks to continue the short term consolidation while Emerging Markets consolidate.

The Volatility Index looks to remain in the normal range making the path easier for equity markets to the upside. The charts of the SPY and IWM look to be in limbo, moving sideways as a potential bottom. On the shorter timeframe the Santa Claus Rally is in jeopardy with 2 days trading left to maintain a slight gain. The QQQ has been the weakest since mid-December now retesting the low of the year. 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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