5 Trade Ideas for Monday: Abbvie, Caterpillar, Costco, Goldman Sachs and Morgan Stanley

• Posted by Greg Harmon
• on December 3rd, 2023

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

Abbvie, Ticker: $ABBV

Abbvie, $ABBV, comes into the week approaching resistance. It has a RSI entering the bullish zone with the MACD rising. Look for a push over resistance to participate…..

Caterpillar, Ticker: $CAT

Caterpillar, $CAT, comes into the week breaking resistance. It has a RSI entering the bullish zone with the MACD crossing to positive. Look for continuation to participate….

Costco, Ticker: $COST

Costco, $COST, 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…..

Goldman Sachs, Ticker: $GS

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

Morgan Stanley, Ticker: $MS

Morgan Stanley, $MS, comes into the week pushing through resistance. 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 the first day of December in the books, saw equity markets continue to show strength but with some rotation from tech to large and small cap stocks.

Elsewhere look for Gold to continue its break out to new highs while Crude Oil consolidates in a downtrend. The US Dollar Index continues the short term drift to the downside while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue the short term drift lower while Emerging Markets consolidate under long term resistance.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe the QQQ is seeing a digestive pause as the SPY and the IWM benefit from money flowing into equities. 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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