5 Trade Ideas for Monday: Abbott Labs, Anthem, General Mills, Lockheed and Zions Bank

• Posted by Greg Harmon
• on May 1st, 2022

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

Abbott Laboratories, Ticker: $ABT

Abbott Laboratories, $ABT, comes into the week breaking support. It has a RSI falling in the bearish zone with the MACD negative and dropping. Look for continuation to participate…..

Anthem, Ticker: $ANTM

Anthem, $ANTM, comes into the week testing support after a pullback. The RSI is dropping in the bullish zone with the MACD falling. Look for continuation lower to participate….

General Mills, Ticker: $GIS

General Mills, $GIS, comes into the week pulling back from an all-time high. It has a RSI dropping in the bullish zone with the MACD crossed down. Look for continuation to participate…..

Lockheed Martin, Ticker: $LMT

Lockheed Martin, $LMT, comes into the week pulling back from an all-time high. It has a RSI falling into the bearish zone with the MACD negative and dropping. Look for a break of support to participate…..

Zions Bancorporation, Ticker: $ZION

Zions Bancorporation, $ZION, comes into the week stalling in a bounce. The RSI is falling in the bearish zone with the MACD negative and falling. Look for continuation lower 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 with April in the books, saw equity markets off to their worst start in over 80 years and in downtrends.

Elsewhere look for Gold to continue the short term pullback while Crude Oil consolidates in its uptrend. The US Dollar Index continues a strong move higher but is at resistance while US Treasuries continue to trend lower. The Shanghai Composite looks to bounce in its downtrend while Emerging Markets continue to trend lower.

The Volatility Index looks to remain elevated and possibly continuing higher making the path easier for equity markets to the downside. Their charts also look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY could us a reset on momentum measures as both are extended. If that happens it might be time for the IWM to take the lead. 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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