5 Trade Ideas for Monday:Ā Allstate, Air Products, Astrazeneca, Costco and Visa
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Allstate, $ALL, 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 participateā¦
Air Products, $APD, comes into the week at resistance. It has a RSI rising off the midline with the MACD turning positive. Look for a push over resistance to participateā¦
Astrazeneca, $AZN, comes into the week pressing resistance at the 200 day SMA. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participateā¦
Costco, $COST, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participateā¦
Visa, $V, 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 participateā¦
If you like what you see sign up for more ideas and deeper analysis using thisĀ Get PremiumĀ link.Ā Ā
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 broadĀ Market MacroĀ picture reviewed Friday which With the month of May in the books, saw that equity markets showed a budding recovery from last week.
Elsewhere look for Gold to continue its uptrend while Crude Oil continues to trend lower. The US Dollar Index continues a short term move to the downside while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue in consolidation while Emerging Markets fall from the cusp of a break to the upside.
The Volatility Index looks to continue in the normal range making life easier for equity markets to the upside. Their charts show short term strength on the longer timeframe with digestion in the shorter timeframes. The IWM continues to lag the SPY and QQQ in recovery in price and the shift to bullish momentum on the longer timeframe. The classic āVā recovery continues to build in all 3 Index ETFs as the SPY and QQQ close in on their all-time highs. Use this information as you prepare for the coming week and tradāem well.
















