5 Trade Ideas for Monday: TD Ameritrade, Apache, Celgene, Fiserv and Oracle
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
TD Ameritrade, Ticker: $AMTD
TD Ameritrade, $AMTD, was drifting lower with the falling 200 day SMA as resistance until late September. It then gapped down on strong volume and found support. Last week ended with the start of a reversal higher. The RSI is also moving up out of oversold territory with the MACD turning to cross up. Look for continuation to participate…..
Apache, Ticker: $APA
Apache, $APA, started lower in April and found a bottom in August. It bounced from there but stalled as it reached the 200 day SMA and reversed back lower. Now it appears to be reversing higher again. The RSI is also reversing and the MACD is leveling. Look for continuation higher to participate…..
Celgene, Ticker: $CELG
Celgene, $CELG, started higher off of a December low. It gapped up into January and then slowed its move up. After a top in June it gapped down and has been drifting higher. It ended last week making a new 20 month high with the RSI rising and bullish and the MACD level and positive. Look for continuation to participate…..
Fiserv, Ticker: $FISV
Fiserv, $FISV, started to rise out of consolidation in June. It accelerated into August and then slowed to a top in September. It pulled back from there and has consolidated under resistance. The RSI is rising back towards the bullish zone and the MACD is crossed up and positive. Look for a push over resistance to participate…..
Oracle, Ticker: $ORCL
Oracle, $ORCL, started off of a December low and continued to a top in July. Since then it has pulled back to the 200 day SMA and has been riding it slowly. Last week it pushed up to a higher high with the MACD rising and bullish and the MACD positive and moving up. Look for continuation to participate…..
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 October Options Expiration and the first week of the new earnings season, sees equities have caught a bid and are looking stronger on the longer timeframe.
Elsewhere look for Gold to continue to consolidate around 1500 while Crude Oil bounces higher in consolidation. The US Dollar Index looks to pullback in the drift higher while US Treasuries move lower. The Shanghai Composite is reversing to the upside and Emerging Markets look to continue their short term move higher in consolidation.
Volatility has eased and looks to remain very low changing the bias to higher for the equity index ETF’s SPY, IWM and QQQ. The SPY and QQQ both broke above key resistance and look to continue higher on the longer timeframe with a possible short term pause, while the IWM continues to churn in a wide consolidation. Use this information as you prepare for the coming week and trad’em well.
