5 Trade Ideas for Tuesday: Amgen, Fortinet, Alphabet, Nasdaq and Walmart

• Posted by Greg Harmon
• on December 24th, 2023

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

Amgen, Ticker: $AMGN

Amgen, $AMGN, comes into the week approaching the October high. The RSI is in the bullish zone with the MACD positive. Look for continuation to participate…..

Fortinet, Ticker: $FTNT

Fortinet, $FTNT, comes into the week at resistance. it has a RSI in the bullish zone with the MACD positive. Look for a push through resistance to participate…..

Alphabet, Ticker: $GOOGL

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

Nasdaq, Ticker: $NDAQ

Nasdaq, $NDAQ, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD curling to cross up. Look for a push over resistance to participate…..

Walmart, Ticker: $WMT

Walmart, $WMT, comes into the week breaking short term resistance. It has a RSI at the midline with the MACD rising. 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 only 4 trading days left in 2023, saw equity markets continue to show strength.

Elsewhere look for Gold to continue its move higher while Crude Oil extends a short term move to the upside. The US Dollar Index continues to drift to the downside while US Treasuries continue their short term uptrend. The Shanghai Composite looks to continue the trend lower while Emerging Markets are back in broad consolidation.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts continue to look strong, especially on the longer timeframe. On the shorter timeframe there is now some rotation from adding to the QQQ and SPY to putting money into the IWM. 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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