5 Trade Ideas for Monday: Albemarle, Amgen, Anthem, F5 and Merck
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Albemarle, Ticker: $ALB
Albemarle, $ALB, comes into the week at resistance. It has a RSI rising in the bullish zone with the MACD positive and moving up. Look for a push over resistance to participate…..
Amgen, Ticker: $AMGN
Amgen, $AMGN, comes into the week approaching resistance. It has a RSI rising in the bullish zone with the MACD positive and climbing. Look for a push over resistance to participate…..
Anthem, Ticker: $ANTM
Anthem, $ANTM, comes into the week at an all-time high. It has a RSI in the bullish zone with the MACD lifting up off the signal line and positive. Look for continuation to participate…..
F5, Ticker: $FFIV
F5, $FFIV, comes into the week at resistance and the 200 day SMA. The RSI is rising into the bullish zone with the MACD positive and moving higher. Look for a push over resistance to participate…..
Merck, Ticker: $MRK
Merck, $MRK, comes into the week breaking over trend resistance. It has a RSI rising in the bullish zone with the MACD climbing and 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 heading into the last week of the 1st Quarter, saw equity markets showed some strength in the face of increasing expectations for Fed moves and aggressiveness as well as continued war in Ukraine.
Elsewhere look for Gold to continue its move higher while Crude Oil also rebounds to the upside. The US Dollar Index continues to drift to the upside while US Treasuries pullback in their downtrend. The Shanghai Composite looks to continue the short term move lower while Emerging Markets may resume the downtrend.
The Volatility Index has made a return to normal levels making the path easier for equity markets to the upside. The charts of the SPY and QQQ look strong, especially on the longer timeframe. On the shorter timeframe both are close to confirming reversals to the upside. The IWM remains in its old pattern of consolidation, just in a lower range. Use this information as you prepare for the coming week and trad’em well.