#$dfs

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5 Trade Ideas for Monday: Broadcom, Discover, Eaton, Ingersoll-Rand and Shopify

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

Broadcom, Ticker: $AVGO

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

Discover Financial Services, Ticker: $DFS

Discover Financial Services, $DFS, 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 participate…..

Eaton, Ticker: $ETN

Eaton, $ETN, 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 participate…..

Ingersoll-Rand, Ticker: $IR

Ingersoll-Rand, $IR, 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 participate…..

Shopify, Ticker: $SHOP

Shopify, $SHOP, comes into the week pushing over resistance. It has a RSI in the bullish zone with the MACD 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 with the 3rd Quarter in the books and the September Non-Farm Payroll report posted, saw equities have a seesaw week.

Elsewhere look for Gold to continue its uptrend while Crude Oil possibly creates a new uptrend. The US Dollar Index continues to move to the upside in consolidation while US Treasuries fall back into consolidation. The Shanghai Composite looks to continue higher while Emerging Markets continue their young uptrend.

The Volatility Index looks to remain below normal 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 the QQQ and SPY look ready to break flags to the upside. The IWM continues to hold near the top of consolidation. Use this information as you prepare for the coming week and trad’em well.

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5 Trade Ideas for Monday: Citigroup, Discover, Hilton, Valero and Zscaler

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

Citigroup, Ticker: $C

Citigroup, $C, comes into the week pushing up to resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Discover Financial, Ticker: $DFS

Discover Financial, $DFS, comes into the week pushing on resistance. It has a RSI in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

Hilton Worldwide, Ticker: $HLT

Hilton Worldwide, $HLT, comes into the week at resistance at an all-time high. The RSI is in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Valero Energy, Ticker: $VLO

Valero Energy, $VLO, comes into the week at short term resistance. It has a RSI rising off the midline with the MACD crossed up. Look for a push over resistance to participate…..

Zscaler, Ticker: $ZS

Zscaler, $ZS, 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 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 the 2nd Quarter of 2024 in the books and heading into the holiday shortened week, saw equity markets showing resilience with a rebound from a pullback and large caps and tech names holding at the highs.

Elsewhere look for Gold to continue its consolidation after the record move higher while Crude Oil consolidates in a broad range. The US Dollar Index continues the short term move to the upside while US Treasuries continue in their secular downtrend. The Shanghai Composite looks to continue the downtrend while Emerging Markets consolidate under long term resistance.

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. On the shorter timeframe both the QQQ and SPY are showing signs of a possible reset on momentum measures as both are extended. The IWM continues to lag in a long term channel. Use this information as you prepare for the coming week and trad’em well.

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4 Trade Ideas for Discover Financial Services: Bonus Idea

Discover Financial Services, $DFS, comes into the week starting higher after a gap down. It moved back into the Bollinger Bands® Friday as it got a lift. The RSI is moving back up out of oversold territory and the MACD is starting to level. The gap above leaves some room to run higher. There is resistance at 93.50 and 95 then 96.50 and 98.50 before 101 and 102.50. Support lower comes at 91.50 and 90. Short interest is low at 1.9%. The stock pays a dividend with an annual yield of 3.00% and starts trading ex-dividend on August 23rd. 

The company is expected to report earnings next on October 23rd. The September options chain shows biggest open interest at the 90 put strike and then at the 95 and 100 call strikes. In the October chain open interest is biggest at the 95 put and spread from 90 to 125 on the call side. Finally, the January chain shows the biggest open interest at the 110 and then 87.50 put strikes. On the call side it is biggest at the 110 strike.

Discover Financial Services, Ticker: $DFS

Trade Idea 1: Buy the stock on a move over 93.50 with a stop at 90.

Trade Idea 2: Buy the stock on a move over 93.50 and add an October 90/85 Put Spread ($1.65) while selling the October 105 Calls (90 cents).

Trade Idea 3: Buy the September/October 100 Call Calendar ($1.50) while selling the October 80 Put (95 cents).

Trade Idea 4: Buy the January 85/95/110 Call Spread Risk Reversal ($1.55).

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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 the August options expiration in the books, equity markets continue to be under pressure heading into the coming week’s FOMC Jackson Hole Meeting.

Elsewhere look for Gold to continue its pullback while Crude Oil pulls back in consolidation. The US Dollar Index continues to drift to the upside while US Treasuries trend lower. The Shanghai Composite and Emerging Markets look to continue to pullback in consolidation ranges.

The Volatility Index looks to remain low but with upside risk making the path harder for equity markets to the upside. The charts of the SPY and QQQ still look strong on the longer timeframe. On the shorter timeframe the QQQ has broken the June low and the SPY approaching it, turning both from short term down moves to trending lower. The IWM continues in a broad consolidation that started April 2022. Use this information as you prepare for the coming week and trad’em well.

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5 Trade Ideas for Monday: AbbVie, Discover, Chart Industries, Universal Display and Terex

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

AbbVie, Ticker: $ABBV

AbbVie, $ABBV, comes into the week moving up to resistance. The RSI is rising with the MACD about to turn positive. Look for a push over resistance to participate…..

Discover Financial, Ticker: $DFS

Discover Financial, $DFS, comes into the week moving up from support. It has a RSI rising and a MACD leveling and positive. Look for continuation to participate…..

Chart Industries, Ticker: $GTLS

Chart Industries, $GTLS, comes into the week nearing resistance. It has a RSI rising with the MACD trying to cross up. look for a push over resistance to participate…..

Universal Display, Ticker: $OLED

Universal Display, $OLED, comes into the week approaching resistance. It has a RSI in the bullish zone and a MACD moving up. Look for a push over resistance to participate…..

Terex, Ticker: $TEX

Terex, $TEX, comes into the week breaking through resistance. The RSI is bullish 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 2 trading days left in February, saw equity markets showed some weakness as they reacted to a less sanguine Fed in their discussion of disinflation.

Elsewhere look for Gold to continue its short term pullback while Crude Oil consolidates in a tight range. The US Dollar Index continues to move to the upside while US Treasuries pullback in consolidation. The Shanghai Composite looks to continue to consolidate under resistance while Emerging Markets continue the move lower.

The Volatility Index looks to remain in the normal range and stable making the path easier for equity markets to the upside. Their charts are showing weakness on both timeframes but remain well above the prior lows, not threatening the nascent uptrends at this point. The SPY and QQ also remain above the falling trendline that acted as resistance through 2022. The IWM trend looks the strongest at this juncture. Use this information as you prepare for the coming week and trad’em well.

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4 Trade Ideas for Discover Financial: Bonus Idea

Discover Financial, $DFS, had a bullish run begin with a Golden Cross in October 2020. After moving up out of an ascending triangle, it exceed the target move to 124.50, topping in August. The price action since the triangle break has created a rounding top. It has spent the past month on support and is now leaking under the 200 day SMA. The 50 day SMA is also dropping to possibly create a Death Cross. 

The RSI is dropping in the bearish zone with the MACD negative but trending higher. The Bollinger Bands® have squeezed in which often happens ahead of a big move. There is support lower at 112 and 104 then 96 and 91.50 before 86 and 82. Resistance higher comes at 116 and 120. Short interest is low at 2%. The stock pays a dividend with an annual yield of 1.75% and has traded ex-dividend since November 23rd. 

The company is expected to report earnings next on January 18, 2022. the December options chain shows chunks of open interest at every 5th strike on the put side and focused at the 115 and 120 strikes on the call side. The January chain is biggest at the 110 and 95 strikes on the put side and spread from 100 to 135 on the call side.

Discover Financial Services, Ticker: $DFS

Trade Idea 1: Sell the stock short on a move under 112 with a stop at 116.

Trade Idea 2: Sell the stock short on a move under 112 and add a December 116/120 Call Spread ($1.90).

Trade Idea 3: Buy the December 112/95 Put Spread ($2.95).

Trade Idea 4: Buy the January 110/95 1x2 Put Spread ($2.20).

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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 2 trading days left in November, saw equity markets  showing some degree of weakness in the short term.

Elsewhere look for Gold to consolidate after a pullback while Crude Oil pulls back from multi-year highs. The US Dollar Index continues to trend to the upside while US Treasuries consolidate. The Shanghai Composite looks to continue in broad consolidation while Emerging Markets extend losses in a downtrend.

The Volatility Index looks to remain elevated making the path more difficult for equity markets to the upside. Their charts remain mixed with the SPY and QQQ stronger than the IWM. For the strong ones, they continue to look stronger on the longer timeframe. On the shorter timeframe both the QQQ and SPY are resetting momentum measures and at risk for more pullback.

The IWM is right in the middle of the longer term consolidation covering all of 2021, but in a downtrend on the daily chart. The Hammer candle on the gap down to end the week could show us that the worst is over after more than an 8% drop. Use this information as you prepare for the coming week and trad’em well.

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5 Trade Ideas for Monday: American Axle, Covetrus, DoorDash, Discover and Sea

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

American Axle, Ticker: $AXL

American Axle, $AXL, ran to a top in March and then pulled back in sharp fashion. It found support at the 100 day SMA and has been consolidating. The RSI is rising through the midline and the MACD is crossed up and rising. Look for a push over resistance to participate…..

Covetrus, Ticker: $CVET

Covetrus, $CVET, ran to a top in February and then pulled back. It found support at the 200 day SMA and looks to be reversing higher. The RSI is moving up and the MACD crossed up and rising. Look for a push over resistance to participate…..

DoorDash, Ticker: $DASH

DoorDash, $DASH, started falling in February and finally found support at a lower low into March. Since then, it bounced and consolidated before a break higher Friday. The RSI is rising and the MACD positive. Look for continuation to participate…..

Discover Financial, Ticker: $DFS

Discover Financial, $DFS, pulled back to the 50 day SMA in January and then reversed up to the current consolidation zone. The RSI is rising toward the bullish zone with the MACD crossing up. Look for a push over resistance to participate…..

Sea, Ticker: $SE

Sea, $SE, topped in February after a long run higher. It pulled back and found support in March and then reversed higher. It ended last week pushing through resistance with the RSI rising into the bullish zone and the MACD lifting. 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 one week left in April sees the weather is turning warmer and equity markets getting a spring in their step.

Elsewhere look for Gold to continue its short term move higher while Crude Oil consolidates in a tight range. The US Dollar Index continues to move to the downside while US Treasuries bounce in their downtrend in their uptrend. The Shanghai Composite looks to continue broad consolidation while Emerging Markets consolidate in the uptrend.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts also look strong, especially on the longer timeframe, with the SPY leading the charge and the QQQ moving to join it while the IWM consolidates. On the shorter timeframe the SPY is also the strongest with the QQQ starting to move higher and the IWM on the edge of a breakout. If that happens it might be time for the IWM to take the lead again. Use this information as you prepare for the coming week and trad’em well.

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5 Trade Ideas for Monday: Crown Castle, Discover, Generac, HD Supply and Synchrony

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

Crown Castle, Ticker: $CCI

Crown Castle, $CCI, made a top in July and then started to pull back in a channel. It broke the channel to the upside last week with the RSI moving into the bullish zone and the MACD rising. Look for continuation to participate…..

Discover Financial, Ticker: $DFS

Discover Financial, $DFS, stalled when it hit the 200 day SMA in June. It pulled back to the 50 day SMA and then rode it higher for the next 3 months. It is now making a new higher high with the RSI rising in thee bullish zone and the MACD positive and moving up. Look for continuation to participate…..

Generac, Ticker: $GNRC

Generac, $GNRC, went through some fits and starts to reach a high in early September. It pulled back from there and consolidated before a reversal to the upside last week. That left it at a new all-time high. The RSI is rising in the bullish zone with the MACD positive and moving higher. Look for continuation to participate…..

HD Supply, Ticker: $HDS

HD Supply, $HDS, lifted out of consolidation in May and ran to the 200 day SMA. It knocked back from there. A second leg stalled as it hit the February highs and it pulled back again. It is now back at that high with the RSI rising in the bullish zone and the MACD crossing up and positive. Look for a push over resistance to participate…..

Synchrony Financial, Ticker: $SYF

Synchrony Financial, $SYF, started higher in March and then accelerated in May. It stalled and pulled back before a slow grind higher to the same high in September. That led to another pullback, shallower, and a reversal to the prior high again. The RSI is rising in the bullish zone with the MACD crossing up. Look for a break over resistance to participate…..

If you like what you see sign up for more ideas and deeper analysis using this Get Premium link.  

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 as the 4th Quarter begins, sees equity markets are hinting at a rebound from an ugly September.

Elsewhere look for Gold to continue its short term move higher while Crude Oil consolidates in a broad range. The US Dollar Index looks to be reversing to the upside while US Treasuries drift lower in consolidation. The Shanghai Composite looks to continue in consolidation while Emerging Markets consolidate under long term resistance.

The Volatility Index looks to remain in moderate territory not really hurting or making it easier for equity markets to the upside. Their charts look stronger on the longer timeframe, reversing off of the downtrend. On the shorter timeframe the IWM is breaking a bull flag to the upside, leading the markets. Both the QQQ and SPY are stalled though and without making higher highs. Use this information as you prepare for the coming week and trad’em well.