5 Trade Ideas for Monday:  Avis Budget, ConocoPhillips, Chevron, NVIDIA and Charles Schwab

• Posted by Greg Harmon
• on August 13th, 2023

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

Avis Budget, Ticker: $CAR

Avis Budget, $CAR, comes into the week at resistance. It has a RSI in the bullish zone with a MACD positive. Look for push through resistance to participate…..

ConocoPhillips, Ticker: $COP

ConocoPhillips, $COP, comes into the week at resistance. It has a RSI in the bullish zone with the MACD flat and positive. look for a push over resistance to participate…..

Chevron, Ticker: $CVX

Chevron, $CVX, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

NVIDIA, Ticker: $NVDA

NVIDIA, $NVDA, comes into the week at support. It has a RSI in the bearish zone with the MACD negative and dropping. Look for a drop through support to participate…..

Charles Schwab, Ticker: $SCHW

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

Up Next: Bonus Idea

The Best

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.   

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 the August options expiration, saw equity markets continue to show short term weakness fitting with the seasonal pattern.

Elsewhere look for Gold to continue its pullback while Crude Oil in on the verge of a breakout higher with strong momentum. The US Dollar Index continues a short term move to the upside while US Treasuries pullback. The Shanghai Composite looks to continue the pullback in consolidation while Emerging Markets consolidate.

The Volatility Index looks to remain low and better to the downside making the path easier for equity markets to the upside. The charts of SPY and QQQ look strong on the longer timeframe with the IWM in a broad consolidation. On the daily timeframe the IWM, the QQQ and the SPY all look messier with a bias lower short term. 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.

blog comments powered by Disqus