5 Trade Ideas for Monday: Affirm, Fortinet, Ingersoll Rand, Roku and Tapestry

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

Affirm, Ticker: $AFRM

Affirm, $AFRM, 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…

Fortinet, Ticker: $FTNT

Fortinet, $FTNT, comes into the week breaking resistance into the gap. It has a RSI near the bullish zone with the MACD rising. Look for continuation to participate…

Ingersoll Rand, Ticker: $IR

Ingersoll Rand, $IR, comes into the week breaking resistance. It has a RSI rising over the midline with the MACD positive. Look for continuation to participate…

Roku, Ticker: $ROKU

Roku, $ROKU, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

Tapestry, Ticker: $TPR

Tapestry, $TPR, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a move 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 coming out of a week with the FOMC meeting and Quadruple Witching, saw equity markets continue to look rock solid, making new highs in the index ETFs across the board.

Elsewhere, look for Gold to continue the uptrend to new highs while Crude Oil drifts in consolidation. The US Dollar Index continues to run sideways in consolidation, while US Treasuries may be in the early stages of reversing their downtrend. The Shanghai Composite looks to continue the uptrend to new 10 year highs while Emerging Markets also continue their uptrend at 4 year highs.

The Volatility Index looks to continue to hold at low levels, making life easier for equity markets to the upside. The charts of the SPY, the IWM and the QQQ are all strong on both timeframes. The SPY and the QQQ added 3 more all-time high closes, including Friday, while the IWM saw profit taking Friday after its first new all-time high in 46 months. 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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