5 Trade Ideas for Monday: Anadarko Petroleum, CF Industries, Cigna, Express Scripts & Intercontinental Exchange

• Posted by Greg Harmon
• on April 15th, 2018

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

Anadarko Petroleum, Ticker: $APC

Anadarko Petroleum, $APC, started higher in September. It gapped up later in the month and then consolidated through December before a second move higher to a top in January. It pulled back to its 50 day SMA then and has consolidated around there since. Friday it pushed up to a new high to end the week. The RSI is holding in the bullish zone and the MACD is rising and positive. Look for continuation to participate higher…..

CF Industries, Ticker: $CF

CF Industries, $CF, started higher in May last year, moving up with pullbacks along the way to a top in March. It pulled back from there and tested the 200 day SMA, holding and consolidating since. The RSI is rounding up to the mid line with the MACD crossing up and moving higher. Look for a push over consolidation to participate higher…..

Cigna, Ticker: $CI

Cigna, $CI, had a long run higher to a top at the end of January. It gapped down and continued lower into March finding support until a second gap down in March. This found support and consolidated until the end of last week. That is when it broke the consolidation to the upside. The RSI is rising and making a higher high as it approaches the bullish zone, while the MACD is also rising toward zero. Look for continuation to participate higher…..

Express Scripts, Ticker: $ESRX

Express Scripts, $ESRX, had a long trend lower before morphing into a consolidation from May through December last year. Then it continued higher, reaching a top in January. It pulled back from there but quickly found support and reversed higher. It gapped up to a higher high in March but could not hold it and fell back quickly to a lower low. That move found support at the 200 day SMA and is now moving higher again. The RSI is moving up toward the bullish zone and the MACD is crossed up. Look for a push over recent resistance to participate higher…..

Intercontinental Exchange, Ticker: $ICE

Intercontinental Exchange, $ICE, has a multi-year trend higher. But recently it has created a possible double top with the failure to push higher in March. The pullback to just under the 100 day SMA shows support where it has held 3 times before, the lone exception the prior drop to the 200 day SMA. Now it is consolidating under resistance with the RSI at the mid line and the MACD crossing up. Look for a push through 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 as we head into April options expiration saw the equity markets poke above consolidation in a signal of strength but had trouble holding it Friday.

Elsewhere look for Gold to consolidate with a bias higher while Crude Oil continues its run higher. The US Dollar Index continues to move sideways while US Treasuries consolidate with a bias higher. The Shanghai Composite and Emerging Markets look to continue to consolidate, with the Chinese market near lows and Emerging Markets at highs.

Volatility looks to continue to drift lower easing the pressure on the equity index ETF’s SPY, IWM and QQQ. Their charts had pressed higher in the shorter timeframe but printed an ugly Friday. On the longer timeframe they look to be reversing higher though, a time divergence. 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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