5 Trade Ideas for Monday: Abbott Labs, Danaher, Alphabet, Visa and YUM Brands

• Posted by Greg Harmon
• on September 8th, 2019

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

Abbott Labs, Ticker: $ABT

Abbott Labs, $ABT, rose out of consolidation in June and ran to a top at the back end of July. It pulled back from there to find support in mid-August. Now it is moving higher with the RSI rising through the mid line and then MACD crossed up and about to turn positive. Look for a continued push higher to participate…..

Danaher, Ticker: $DHR

Danaher, $DHR, ran from a December low to a high at the beginning of July. Since then it has been consolidating. Friday saw it push back to that high with the RSI rising into the bullish zone and the MACD moving to positive. Look for a push to a new high to participate…..

Alphabet, Ticker: $GOOGL

Alphabet, $GOOGL, made a high at the end of April and then immediately gapped lower. It found support after a second gap down at the beginning of June and started higher. A third gap, this time to the upside, sold off until it was closed and then the stock consolidated. Last week it started to lift out of that consolidation. The RSI is holding in the bullish zone with the MACD crossing up and positive. Look for continuation to participate…..

Visa, Ticker: $V

Visa, $V, had a strong run higher form a December low to a peak in July. Since then it pulled back and now has slowly retraced the drop. Now it is at making a new all-time high with the RSI rising in the bullish zone and the MACD moving up. Look for continuation to participate…..

YUM Brands, Ticker: $YUM

YUM Brands, $YUM, rose out of a drifting consolidation in March and continued to an April top. It retraced to the 50 day SMA and then started a move that took it to the August high. It has consolidated since and Friday moved back to the high. The RSI is rising in the bullish zone with the MACD crossing up and positive. Look for a new high 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 first week of September in the book, saw equity markets making a resurgence.

Elsewhere look for Gold to pause in its uptrend while Crude Oil slowly drifts lower. The US Dollar Index is also drifting, but to the upside while US Treasuries pullback in their uptrend. The Shanghai Composite and Emerging Markets have both reversed to the upside and look to continue higher.

Volatility has eased and looks to remain very low changing the bias to higher for the equity index ETF’s SPY, IWM and QQQ. The SPY and QQQ both broke ranges to issue buy signals while the IWM continues to churn in a wide consolidation. Use this information as you prepare for the coming week and trad’em well.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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