5 Trade Ideas for Monday: Aflac, Ambarella, Caterpillar, First Solar and Marriott

• Posted by Greg Harmon
• on November 19th, 2023

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

Aflac, Ticker: $AFL

Aflac, $AFL, comes into the week approaching resistance and the all-time high. It has a RSI in the bullish zone and a MACD positive. Look for a push over resistance to participate…..

Ambarella, Ticker: $AMBA

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

Caterpillar, Ticker: $CAT

Caterpillar, $CAT, comes into the week at resistance. It has a RSI rising to the bullish zone with the MACD negative. look for continuation over resistance to participate…..

First Solar, Ticker: $FSLR

First Solar, $FSLR, comes into the week approaching resistance. It has a RSI rising over the midline with the MACD moving higher. Look for a push over resistance to participate…..

Marriott, Ticker: $MAR

Marriott, $MAR, comes into the week approaching resistance. It has a RSI in the bullish zone with a MACD positive. 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 November Options Expiration in the books, saw equity markets showed strength with a tech and large caps printing a third weekly move to the upside and were now joined by the small caps.

Elsewhere look for Gold to continue its short term move higher while Crude Oil its short term move to the down side. The US Dollar Index shifted to a pullback that looks to continue while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue its bounce in a downtrend as well while Emerging Markets consolidate.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. The charts of the large caps and tech look strong, especially on the longer timeframe. On the shorter timeframe the QQQ is about to shift to an intermediate term trend higher and the SPY is not far behind. The IWM remains mired in consolidation despite a fabulous week for small caps. 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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