5 Trade Ideas for Monday: ADP, Arconic, Colgate, McDonald’s and Morgan Stanley

• Posted by Greg Harmon
• on March 17th, 2019

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

ADP, Ticker: $ADP

ADP, $ADP, ran to a bottom on Christmas Eve, like most of the market. From there the stock started higher, slowly at first, until it crossed its 200 day SMA at the end of January. It accelerated from there and kept going to a new all-time high in February. It went through a digestive pullback at the start of March and is now moving to new highs again. The RSI is bullish and rising with the MACD about to cross up. Look for continuation to participate…..

Arconic, Ticker: $ARNC

Arconic, $ARNC, started moving lower from a bounce in October. It made a bottom in December and then retested it in January. The move higher since January has met resistance and the stock has been consolidating under it for 6 weeks, making higher lows. The RSI is drifting higher toward the bullish zone with the MACD crossed up and positive. Look for a push over resistance to participate…..

Colgate-Palmolive, Ticker: $CL

Colgate-Palmolive, $CL, started moving lower in September, finding support at the end of October. It reversed to a lower high into December before falling back and retesting the October low. Since then it has moved higher, confirming a double bottom in February and then to a higher high. It pulled back to retest the December top and has revered again to run back to the prior high. The RSI is rising in the bullish zone with the MACD about to cross up. Look for a new high to participate…..

McDonald’s, Ticker: $MCD

McDonald’s, $MCD, made a bottom in August and then moved higher. The run stopped in November and pulled back to the 50 day SMA. Since then it has made a series of higher lows and lower highs as it consolidates. Short term, it is coming into the week at resistance with the RSI rising in the bullish zone and the MACD crossing up and positive. Look for a push over resistance to participate…..

Morgan Stanley, Ticker: $MS

Morgan Stanley, $MS, moved steadily lower from a top in March last year. It accelerated and found a bottom in late December. Since then it has pushed up into mid-January and entered into consolidation. Last week ended with the price pushing to the top of the consolidation range and a nearly 2 month high. The RSI is rising into the bullish zone with the MACD lifting off of the zero line. Look for a break over resistance 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 as the market moved through March Options Expiration saw the equity markets had shifted gears into consolidation, with the exception of the QQQ.

Elsewhere look for Gold to continue to pullback in its uptrend while Crude Oil moves higher. The US Dollar Index looks to move lower in broad consolidation while US Treasuries stall under resistance. The Shanghai Composite and Emerging Markets are back in consolidation mode, moving sideways.

Volatility looks to sit at very low levels, giving support to equities to continue higher. Their charts show the SPY and IWM taking a pause in the shorter timeframe while the QQQ continues to blast higher. On the longer timeframe all 3 have recovered from their 1 week pullback and continue to show strong uptrends. 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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