5 Trade Ideas for Monday: Ambarella, Berkshire, CBOE, Conoco and Regeneron

• Posted by Greg Harmon
• on May 21st, 2023

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

Ambarella, Ticker: $AMBA

Ambarella, $AMBA, comes into the week testing resistance. It has a RSI in the bullish zone and a MACD positive and rising. look for a push over resistance to participate…..

Berkshire Hathaway, Ticker: $BRK/B

Berkshire Hathaway, $BRK/B, comes into the week approaching resistance. it has a RSI rising in the bullish zone with the MACD positive and crossing up. Look for a push through resistance to participate…..

Cboe Global Markets, Ticker: $CBOE

Cboe Global Markets, $CBOE, comes into the week moving up towards the all-time high. It has a RSI in the bullish zone with the MACD level and positive. Look for a new all-time high to participate…..

ConocoPhillips, Ticker: $COP

ConocoPhillips, $COP, comes into the week at resistance. It has a RSI rising toward the bullish zone with the MACD crossed up. look for a push over resistance to participate…..

Regeneron Pharmaceuticals, Ticker: $REGN

Regeneron Pharmaceuticals, $REGN, comes into the week bouncing to resistance. It has a RSI rising to the midline with the MACD curing to cross up. Look for a push over 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 the May options expiration in the books, saw equity markets showed strength with the major indexes moving to higher highs.

Elsewhere look for Gold to continue its pullback in consolidation while Crude Oil consolidates in a broad range. The US Dollar Index continues to drift to the upside while US Treasuries pullback in their consolidation. The Shanghai Composite and Emerging Markets look to continue their consolidation as well.

The Volatility Index looks to remain low and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY have reconfirmed their uptrends. The IWM, however, remains mired in a consolidation 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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