5 Trade Ideas for Tuesday: Adobe, Boeing, Edwards Lifesciences, Horizon Therapeutics and Target
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Adobe, Ticker: $ADBE
Adobe, $ADBE, comes into the week breaking short term consolidation higher. It has a RSI rising into the bullish zone with the MACD rising and about to cross to positive. Look for continuation to participate…..
Boeing, Ticker: $BA
Boeing, $BA, comes into the week rising to resistance in consolidation. It has a RSI rising out of oversold territory with the MACD crossed up. Look for a push over resistance to participate…..
Edwards Lifesciences, Ticker: $EW
Edwards Lifesciences, $EW, comes into the week rising out of consolidation. The RSI is rising at the midline with the MACD crossed up. Look for continuation to participate…..
Horizon Therapeutics, Ticker: $HZNP
Horizon Therapeutics, $HZNP, comes into the week breaking above resistance. It has a RSI rising at the midline with the MACD crossed up and moving higher. Look for continuation to participate…..
Target, Ticker: $TGT
Target, $TGT, comes into the week moving to the top of the gap down. The RSI is rising out of oversold with the MACD turning toward a cross up. 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 Memorial Day Holiday, the unofficial start of summer, saw equity markets had their strongest showing in nearly 2 months.
Elsewhere look for Gold to pause in its uptrend while Crude Oil consolidates in its move higher. The US Dollar Index continues to pullback in the uptrend while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue the short term trend higher while Emerging Markets continue the downtrend. The Volatility Index looks to remain elevated, but falling, making the path easier for equity markets to the upside.
Their charts all printed reversal patterns on both the short term and long term timeframe. On the shorter timeframe the IWM, the QQQ and the SPY all made higher highs ending the week with Three Advancing White Soldiers patterns indicating a reversal. The longer timeframe also shows strong reversals off of key Fibonacci retracement levels. These indicate more upside to come. Use this information as you prepare for the coming week and trad’em well.










