5 Trade Ideas for Monday: Aflac, Arista, Edwards Lifesciences, Honeywell and Vertex Pharma

• Posted by Greg Harmon
• on October 8th, 2023

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

Aflac, Ticker: $AFL

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

Arista Networks, Ticker: $ANET

Arista Networks, $ANET, comes into the week rising from a higher low. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Edwards Lifesciences, Ticker: $EW

Edwards Lifesciences, $EW, comes into the week approaching resistance. It has a RSI nearing the bullish zone with the MACD climbing. Look for a break of resistance to participate…..

Honeywell, Ticker: $HON

Honeywell, $HON, comes into the week with a strong move off support. It has a RSI rising and a MACD turning to cross up. Look for continuation to participate…..

Vertex Pharmaceuticals, Ticker: $VRTX

Vertex Pharmaceuticals, $VRTX, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. 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 with the first full week of October in the books, saw equity markets showed resilience as they found support and reversed after a continued move lower.

Elsewhere look for Gold to continue its downtrend while Crude Oil continues in the fast short term move lower. The US Dollar Index continues in an uptrend but on a three day losing streak while US Treasuries trend lower. The Shanghai Composite looks to reopen after a week off continuing the bias to the downside while Emerging Markets sit at support in consolidation.

The Volatility Index looks to remain low making the path easier for equity markets to the upside. Their charts have improved on the shorter timeframe but in what could still turn out to be an oversold bounce. On the longer timeframe both the QQQ and SPY are printing bottoming candles. The IWM continues to run its own race in a broad but tightening consolidation. 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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