5 Trade Ideas for Monday: Exact Sciences, Fifth Third, IQVIA, KBR and KKR

• Posted by Greg Harmon
• on June 30th, 2019

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

Exact Sciences, Ticker: $EXAS

Exact Sciences, $EXAS, confirmed a change of character to an uptrend when it broke above resistance in January. It retested the breakout 3 times before continuing higher. It gave a second opportunity in early June as it recovered from a pullback and is doing the same now. The RSI is rising and bullish while the MACD is turning back higher. Look for continuation to participate…..

Fifth Third Bancorp, Ticker: $FITB

Fifth Third Bancorp, $FITB, made a higher high at the beginning of May and then started lower. It found support at the beginning of June and has been consolidating. Last week ended with it rising toward resistance. The RSI is moving up to the bullish zone with the MACD crossed up and positive. Look for a push over resistance to participate….

IQVIA, Ticker: $IQV

IQVIA, $IQV, rose up out of consolidation at the beginning of June. It met resistance 2 weeks ago and consolidated. But Friday saw it break the consolidation to the upside. The RSI is bullish and tad bit overbought with the MACD rising and bullish. Look for continuation to participate…..

KBR, Ticker: $KBR

KBR, $KBR, has trended higher since the December bottom. It crossed the 200 day SMA in February and came back to retest it before continuing higher. Another short term peak in May led to a pullback and then the rise to the current mini consolidation. The RSI is bullish and the MACD positive and avoiding a cross down. Look for a push over short term resistance to participate…..

KKR, Ticker: $KKR

KKR, $KKR, started higher from a December low and then leveled as it hit the 200 day SMA. It has oscillated around it ever since in consolidation and under resistance. Friday it ended at resistance. The RSI is rising and in the bullish zone with the MACD positive and growing. Look for a break of 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 2nd Quarter closed saw equity markets had regained some of their swagger with a couple of positive days.

Elsewhere look for Gold to possibly pause in its uptrend while Crude Oil continues higher. The US Dollar Index continues in the short term downtrend while US Treasuries remain in their uptrend. The Shanghai Composite looks to break consolidation around the round number 3000 and resume the uptrend while Emerging Markets remain in a short term uptrend.

Volatility looks to remain low keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts show renewed strength from the IWM with the SPY trying to follow, but a bit less confidence from the QQQ. Perhaps a shift in leadership is coming. 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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