5 Trade Ideas for Monday: Chevron, DaVita, Fidelity National Info, MongoDB and Snowflake

• Posted by Greg Harmon
• on January 29th, 2023

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

Chevron, Ticker: $CVX

Chevron, $CVX, comes into the week pulling back to support. It has a RSI falling in the bullish zone with the MACD positive. Look for a break of support to participate…..

DaVita, Ticker: $DVA

DaVita, $DVA, comes into the week at resistance. It has a RSI in the bullish zone with the MACD crossing up. Look for a push over resistance to participate…..

Fidelity National Information Services, Ticker: $FIS

Fidelity National Information Services, $FIS, comes into the week pushing on resistance. The RSI is in the bullish zone with the MACD positive. look for a push higher to participate…..

MongoDB, Ticker: $MDB

MongoDB, $MDB, comes into the week pushing on resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation higher to participate…..

Snowflake, Ticker: $SNOW

Snowflake, $SNOW, comes into the week moving higher. It has a RSI in the bullish zone with the MACD positive. 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 just 2 trading days left in January, saw equity markets showing strength as they move higher. And with the Santa Claus Rally and 1st Five Days of January both positive is seems a lock that there will also be a Positive January to have all 3 indicators align to set up a positive performance indication for all of 2023.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a tight range. The US Dollar Index continues to drift to the downside while US Treasuries consolidate the bounce in their downtrend. The Shanghai Composite comes back from holiday looking to continue the move higher while Emerging Markets continue to enjoy an uptrend.

The Volatility Index looks to remain normal and stable making the path easier for equity markets to the upside. Their charts look strong on both timeframes. On the shorter timeframe both the QQQ and IWM are making higher highs, with the SPY and QQQ now over their respective 200 day SMA’s. On the longer timeframe the SPY and QQQ are also over falling trend resistance that has held them all of 2022. All are starting to look a lot more bullish. 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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