5 Trade Ideas for Monday: APA, Crown Castle, Costco, Huntington and US Cellular
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
APA, $APA, comes into the week pushing up out of a long downturn. It has a RSI rising in the bearish zone with the MACD negative. Look for a push over resistance to participate…
Crown Castle, $CCI, comes into the week rising from a higher low. It has a RSI in the bullish zone and a MACD positive. Look for continuation to participate…
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 participate…
Huntington Bancshares, $HBAN, comes into the week pressing on resistance. It has a RSI near the midline with the MACD crossed up. Look for a push over resistance to participate…
US Cellular, $USM, comes into the week breaking resistance. It has a RSI at the midline 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 that saw with the April options expiration in the books, equity markets continued to focus on the impact from tariffs and almost nothing else.
Elsewhere look for Gold to continue its record run higher while Crude Oil consolidates in a broad range with a potential reversal higher brewing. The US Dollar Index continues to drift to the downside in a short term downtrend while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue in consolidation while Emerging Markets remain in broad consolidation.
The Volatility Index looks to remain elevated but dropping making the path slightly easier for equity markets to the upside. Their charts continue to look weak though particularly on the longer timeframe. On the shorter timeframe the QQQ, IWM and SPY could show some strength on moves out of last week’s tight ranges to the downside that could lead to a turn around. Wait for proof. Use this information as you prepare for the coming week and trad’em well.
