5 Trade Ideas for Monday: Applied Materials, Eaton Vance, General Dynamics, Mastercard and Royal Caribbean
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Applied Materials, Ticker: $AMAT
Applied Materials, $AMAT, started higher out of a bottom in December. It paused as it hit the 200 day SMA and then took another step higher as the 50 day SMA came up to meet price. Coming into the week it is consolidating under resistance with the RSI rising in the bullish zone and the MACD rising and positive. Look for a push over resistance to participateā¦..
Eaton Vance, Ticker: $EV
Eaton Vance, $EV, moved from a drift lower to a steep decline in October. It bottomed at the end of December and started to move back up. It stalled in that move at the end of February and has been consolidating since. The RSI is rising with the MACD turning up and positive. Look for a push over resistance to participateā¦..
General Dynamics, Ticker: $GD
General Dynamics, $GD, fell from a high in April last year. It bounced to the 200 day SMA in in May but could not hold over it. It consolidated there for the 5 months before starting lower again. It found support at the end of December and reversed higher into January. That move stalled at the end of the month and it has held in consolidation since. Friday saw a move to resistance with the RSI rising in the bullish zone and the MACD lifting off of zero. Look for a move higher to participateā¦..
Mastercard, Ticker: $MA
Mastercard, $MA, started to move higher in December. It slightly overshot the October high in February and then had a minor pullback. It then continued to the current plateau. The RSI is holding strong in the bullish zone with the MACD positive and drifting lower slowly. Look for a push over resistance to participateā¦..
Royal Caribbean, Ticker: $RCL
Royal Caribbean, $RCL, dropped in two steps to a low in December. Since then it has bounced and began to consolidate after making a higher high. Friday saw the price pushing up against resistance with the RSI rising in the bullish zone and the MACD lifting off of zero. Look for a push over resistance to participateā¦..
After reviewing over 1,000 charts, I have found some good setups for the week. Ā These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which heading into the shortened pre-Easter week sees the equity markets continuing to grind higher but remaining short of their all-time highs.
Elsewhere look for Gold to consolidate in a tightening triangle while Crude Oil advances higher. The US Dollar Index continues to consolidate sideways while US Treasuries pull back retesting their break out. The Shanghai Composite looks to pause in its uptrend while Emerging Markets are biased to head higher.
Volatility looks to remain at very low levels keeping the bias higher for the equity index ETFās SPY, IWM and QQQ. The SPY and QQQ seem ready to retest their all-time highs while the IWM has gotten caught up at resistance andĀ continues to churn sideways. Use this information as you prepare for the coming week and tradāem well.
