5 Trade Ideas for Monday: FedEx, Meta, Schlumberger, Visa and Walmart

• Posted by Greg Harmon
• on January 8th, 2023

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

FedEx, Ticker: $FDX

FedEx, $FDX, comes into the week breaking resistance. It has a RSI in the bullish zone and a MACD positive and rising. Look for continuation to participate…..

Meta Platforms, Ticker: $META

Meta Platforms, $META, comes into the week pushing through resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Schlumberger, Ticker: $SLB

Schlumberger, $SLB, comes into the week approaching the November high. It has a RSI rising in the bullish zone with the MACD positive. Look for a new high to participate…..

Visa, Ticker: $V

Visa, $V, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Walmart, Ticker: $WMT

Walmart, $WMT, comes into the week breaking resistance. It has a RSI rising in the bullish zone with the MACD crossing up. 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 week of 2023 in the books, saw equity markets show resilience with a rebound to end the week higher.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a downtrend. The US Dollar Index continues to drift to the downside while US Treasuries are poised to reverse higher in their downtrend. The Shanghai Composite looks to continue in broad consolidation while Emerging Markets establish a short term uptrend.

The Volatility Index looks to remain in the normal range making the path easier for equity markets to the upside. Their charts remain vulnerable to further downside on the longer timeframe. On the shorter timeframe both the IWM and SPY are showing some promise following a Santa Claus Rally while the QQQ is lagging behind. The S&P 500 maintaining over 3839.50 Monday would give a second early year bullish indicator. If that happens traders will look for the trifecta with a positive January to round it out and give another bullish signal. 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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