#$avlr

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5 Trade Ideas for Monday: Avalara, Blackstone, Fiserv, IQVIA and UPS

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

Avalara, Ticker: $AVLR

Avalara, $AVLR, fell below the 200 day SMA and confirmed a short term double top at the start of the month. It is now trying to reverse that with the RSI rising and the MACD about to cross up. Look for a push over resistance to participate…..

Blackstone Group, Ticker: $BX

Blackstone Group, $BX, started higher in November and continued to the current consolidation under resistance. It is re-approaching the top now with the RSI rising in the bullish zone and the MACD about to cross up. Look for a push over resistance to participate…..

Fiserv, Ticker: $FISV

Fiserv, $FISV, ran to a top in April after reversing off the 200 day SMA at the end of January. It pulled back from there, finding support at a higher low 2 weeks ago. It has been consolidating there since. The RSI is rising and the MACD about to cross up. Look for a move over resistance to participate…..

IQVIA, Ticker: $IQV

IQVIA, $IQV, broke up out of a descending triangle at the end of March and ran to a top at the end of April. It has consolidated there until a break higher last week. The RSI is rising in the bullish zone with the MACD turning back higher. Look for continuation to participate…..

UPS, Ticker: $UPS

UPS, $UPS, broke up out of a long channel in April and ran to the current high. It is in consolidation with the RSI pulling back and then MACD crossed down and falling. Look for a break of support 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 May options expiration in the books, saw equity markets take a pause.

Elsewhere look for Gold to continue its move higher while Crude Oil consolidates in a tight range. The US Dollar Index continues to drift to the downside and 3½ year lows while US Treasuries consolidation in their downtrend. The Shanghai Composite looks to continue to drift sideways in a broad range while Emerging Markets consolidate over long term resistance in a tightening range.

The Volatility Index looks to remain low making the path easier for equity markets to the upside. Their charts have all shifted to consolidation now though on the longer timeframe, with the SPY the latest to join. On the shorter timeframe the SPY continues to look the strongest with the IWM in the long consolidation next and the QQQ with the most work left to do to return to bullish. Use this information as you prepare for the coming week and trad’em well.

[dragonflycap]

5 Trade Ideas for Monday: Avalara, AstraZeneca, Cleveland-Cliffs, Ionis Pharmaceuticals, PagSeguro Digital

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

Avalara, Ticker: $AVLR

Avalara, $AVLR, started higher i March. it pulled back at the end of the month to a higher ow and then raced higher. It made a top 2 weeks ago and pulled back through the 20 day SMA before reversing higher Friday. The RSI is rising in the bullish zone with the MACD turning back up and positive. Look for continuation to participate…..

AstraZeneca, Ticker: $AZN

AstraZeneca, $AZN, started to move higher in March and gapped up to a top in May. For the past 2 months it has been consolidating over support with the RSI falling toward the bearish zone and the MACD dropping and near zero. Look for drop under support to participate…..

Cleveland-Cliffs, Ticker: $CLF

Cleveland-Cliffs, $CLF, started the last leg lower in December and reached a bottom in March. It consolidated until late May when it started higher. Last week it pulled back when it hit the 200 day SMA but reversed Friday. The RSI is moving higher in the bullish zone with the MACD avoiding a cross down. Look for continuation to participate…..

Ionis Pharmaceuticals, Ticker: $IONS

Ionis Pharmaceuticals, $IONS, started a slow roll lower in December that gathered steam in February and found a low in March. Since then it has moved higher, stalling at the 200 day SMA in April. A pullback to a higher low and then a reversal sees it back at the 200 day SMA. The RSI is holding on the edge of the bullish zone with the MACD positive and rising slowly. Look for a push higher to participate…..

PagSeguro Digital, Ticker: $PAGS

PagSeguro Digital, $PAGS, fell out of consolidation in March and reached a bottom 2 weeks later. It has ground higher since and is now back at the February high. The RSI is turning up in the bullish zone with the MACD avoiding a cross down. Look for a push higher to participate…..

If you like what you see sign up for more ideas and deeper analysis using the 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 heading into the June options expiration week, sees equity markets showed some weakness with their turn lower at the end of the week following the FOMC meeting.

Elsewhere look for Gold to consolidate in its uptrend while Crude Oil pauses in its move higher. The US Dollar Index looks to be ready to reverse to the upside while US Treasuries also may be reversing higher. The Shanghai Composite looks to continue to mark time moving sideways while Emerging Markets consolidate in their uptrend.

The Volatility Index looks to be reversing higher making the path harder for equity markets to the upside. Their charts look to have been punched in the face, especially on the shorter timeframe. All are holding over the 20 day SMA for now, so no major damage, but time to take notice. On the longer timeframe the long red bearish engulfing candles for both the IWM and SPY show some damage. The QQQ remains the strongest but with a potential reversal candle itself too. Use this information as you prepare for the coming week and trad’em well.