5 Trade Ideas for Monday: Air Products, Costco, Fifth Third, Meta and Pfizer

• Posted by Greg Harmon
• on May 5th, 2024

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

Air Products & Chemicals, Ticker: $APD

Air Products & Chemicals, $APD, 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…..

Costco Wholesale, Ticker: $COST

Costco Wholesale, $COST, 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…..

Fifth Third Bancorp, Ticker: $FITB

Fifth Third Bancorp, $FITB, comes into the week pushing over resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Meta Platforms, Ticker: $META

Meta Platforms, $META, comes into the week breaking short term resistance. It has a RSI rising in the bearish zone with the MACD curling up. Look for continuation to participate…..

Pfizer, Ticker: $PFE

Pfizer, $PFE, comes into the week pressing on 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 April and the May FOMC meeting in the books, saw equity markets show some strength moving higher in a busy week for news.

Elsewhere look for Gold to pullback in its uptrend while Crude Oil pulls back in the long uptrend as well. The US Dollar Index is on the edge of a break out to the upside while US Treasuries pause in their downtrend. The Shanghai Composite looks to continue the short term move higher as it returns from a Labor Day holiday while Emerging Markets with further upside will confirm a new uptrend.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts look strong on the longer timeframe. On the shorter timeframe the IWM is leading the way to a reversal higher while both the QQQ and SPY still have some work to do before they are in the clear. 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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