5 Trade Ideas for Monday: APA, Asana, Dicks, Infosys and Murphy USA

• Posted by Greg Harmon
• on December 15th, 2024

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

APA, Ticker: $APA

APA, $APA, comes into the week at resistance. It has a RSI rising through the midline with the MACD rising but negative. Look for a push over resistance to participate…

Asana, Ticker: $ASAN

Asana, $ASAN, comes into the week consolidating a move higher. It has a RSI in overbought territory with the MACD positive and rising. Look for a break higher out of consolidation to participate…

Dicks Sporting Goods, Ticker: $DKS

Dicks Sporting Goods, $DKS, 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…

Infosys, Ticker: $INFY

Infosys, $INFY, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…

Murphy USA, Ticker: $MUSA

Murphy USA, $MUSA, comes into the week at resistance. It has a RSI in the bullish zone with the MACD flat after a pullback and 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 just 10 trading days left in the year, saw equity markets continue to show strength on the large cap and tech front, with some weakness appearing in small caps.

Elsewhere look for Gold to continue its consolidation in the uptrend while Crude Oil consolidates in the lower end of a broad range. The US Dollar Index continues the short term move to the upside while US Treasuries hold in consolidation. The Shanghai Composite looks to consolidate in the uptrend while Emerging Markets continue the short term move higher.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe, with the small cap IWM showing some downside risk. On the shorter timeframe the QQQ has been the short term leader and looks to continue while the SPY consolidates at the high and the IWM pullback looks to deepen. 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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