5 Trade Ideas for Monday: Affirm, Amgen, Abercrombie & Fitch, Arm and Exact Sciences

• Posted by Greg Harmon
• on October 13th, 2024

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

Affirm, Ticker: $AFRM

Affirm, $AFRM, comes into the week approaching resistance. It has a RSI rising in the bullish zone with the MACD crossing up and positive. Look for a push over resistance to participate…

Amgen, Ticker: $AMGN

Amgen, $AMGN, comes into the week rounding out of a pullback. IT has a RSI rising through the midline with the MACD crossing up. Look for continuation to participate…

Abercrombie & Fitch, Ticker: $ANF

Abercrombie & Fitch, $ANF, comes into the week approaching resistance. It has a RSI near the bullish zone with the MACD positive. Look for a push over resistance to participate…

Arm, Ticker: $ARM

Arm, $ARM, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

Exact Sciences, Ticker: $EXAS

Exact Sciences, $EXAS, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over 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 with the inflation reports behind us, saw that equity markets showed strength, the SPY ending at an all-time high.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a broad range. The US Dollar Index continues to move to the upside while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to reverse lower while Emerging Markets consolidate the start of an uptrend.

The Volatility Index looks to remain low making the path easier for equity markets to the upside. Their charts look strong, especially the SPY and QQQ on the longer timeframe. On the shorter timeframe both the QQQ and SPY are also now ready to resume the move higher. The IWM looks a bit less powerful but is holding near resistance, a good show of relative strength for this sector. 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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