5 Trade Ideas for Monday: TD Ameritrade, Biogen, Diageo, Fifth Third & Teck Resources

• Posted by Greg Harmon
• on May 13th, 2018

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

TD Ameritrade, Ticker: $AMTD

TD Ameritrade, $AMTD, started moving higher in May 2017. It continued to a peak in March and then started to consolidate. It has moved sideways against resistance above and the 50 day SMA below since. The RSI is now making a higher high in the bullish zone with the MACD positive and rising. Look for a push through resistance to participate…..

Biogen, Ticker: $BIIB

Biogen, $BIIB, pulled back from a top in January, finding support in March, over $100 lower. It has consolidated there ever since. Last week it pushed through the 50 day SMA for the first time since early in the fall and it closed over resistance Friday. The RSI is now in the bullish zone with the MACD rising and positive. Look for continuation to participate higher…..

Diageo, Ticker: $DEO

Diageo, $DEO, gapped higher in July last year and then continued to move up. It eventually reached a top in January and started to pull back. The pullback found support in February and bounced against it before it touched the 200 day SMA in late March. This propelled it higher. A pull back to a higher low reversed and now it is back at the top. The RSI is strong in the bullish zone with the MACD rising and bullish. Look for a new high to participate to the upside…..

Fifth Third, Ticker: $FITB

Fifth Third, $FITB, dipped below the 200 day SMA in September, and then took off on a trip to the upside that lasted until early March. It pulled back to the 100 day SMA from there and consolidated. After reporting earnings it gapped higher and stopped just short of the high. It pulled back to a higher low and then reversed. Now it is back at the high. The RSI is in the bullish zone and the MACD is rising. Look for continuation to participate higher…..

Teck Resources, Ticker: $TECK

Teck Resources, $TECK, rose off of its 200 day SMA in November, reaching a top in January. It made a shallow pullback and then retested the top in February but failed to move higher. It confirmed a double top in early March but then quickly found support and settled into consolidation. A recent touch at the 200 day SMA has pushed it back higher and it is testing the top of consolidation. The RSI is rising and bullish with the MACD rising and positive. Look for continuation to participate higher…..

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After reviewing over 1,000 charts, I have found some good setups for the week. This week’s list contains the first five below to get you started early. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which heading into May options expiration week saw the equity markets have regained some swagger short term, but remain consolidating below all-time highs.

Elsewhere look for Gold to continue its short term bounce off of the bottom of a range while Crude Oil continues to move higher. The US Dollar Index may be ending its short term bounce while US Treasuries consolidate at recent lows. The Shanghai Composite is bouncing off of support but Emerging Markets continue to build a bull flag off of their January high.

Volatility looks to continue to drift lower towards very low levels keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts all confirmed short term uptrends this week, making higher highs following higher lows, and look set to continue. Longer term they still have work to do to resume the uptrend, with the IWM on the verge of that confirmation and the QQQ and SPY trailing behind. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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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