5 Trade Ideas for Monday: Agilent Technologies, Apple, Autodesk, LPL Financial & Zoetis

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

Agilent Technologies, Ticker: $A

Agilent Technologies, $A, started higher off of a double bottom in December. It paused in March and April before moving higher again, to the current consolidation. Late last week it broke that to the upside. The RSI is rising in the bullish zone and the MACD is crossed up and rising, both supporting more upside. Look for continuation to participate higher…..

Apple, Ticker: $AAPL

Apple, $AAPL, started moving higher in February, paused as it entered March and then moved higher again in May. It made a top in May and pulled back in June. That pullback found support and consolidated until last week. Friday it pushed over consolidation as the Bollinger Bands® opened. It ended Friday at the 50 day SMA with the RSI rising back to the bullish zone and the MACD crossed up and rising. Look for continuation to participate higher…..

Autodesk, Ticker: $ADSK

Autodesk, $ADSK, drifted higher to a consolidation in the spring where it reconnected with its 50 day SMA. In April it started higher again and then gapped up in late May. Since the gap up it retraced into the beginning of July, not quite closing the gap before a reversal 2 weeks ago. Now it is at resistance with a RSI rising into the bullish zone and a MACD crossed up and moving higher. Look for a push over resistance to participate higher…..

LPL Financial, Ticker: $LPLA

LPL Financial, $LPLA, started higher in July last year, reaching a top in December before pulling back. It found support at the 50 day SMA and moved back to a higher high in May before a pull back to a higher low. Another reversal has it at the prior high again with the RSI bullish and rising and the MACD avoiding a cross down and turning back up. Look for a push over resistance to participate…..

Zoetis, Ticker: $ZTS

Zoetis, $ZTS, started a move higher in April out of consolidation. That met resistance in June and it has been consolidating in a tight range since. The Bollinger Bands® have squeezed, often a precursor to a move, and the RSI is moving higher in the bullish zone while the MACD is about to cross up. Look for a push over resistance to participate higher…..

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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 heading into July options expiration and the height of summer earnings, sees the equity markets looking very strong.

Elsewhere look for Gold to continue its recent move higher while Crude Oil bounces in a channel. The US Dollar Index continues to look weak while US Treasuries continue their consolidation in a channel. The Shanghai Composite remains in a slowly rising uptrend as Emerging Markets continue their break out to the upside.

Volatility looks to remain at extremely low levels keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts support this view as well on both the daily and weekly timeframes. 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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