5 Trade Ideas for Monday: Airbnb, Adobe, Alaska Air, American Express and Phillips 66

• Posted by Greg Harmon
• on October 3rd, 2021

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

Airbnb, Ticker: $ABNB

Airbnb, $ABNB, comes into the week bouncing off the 20 day SMA. It has a RSI rising in the bullish zone with the MACD turning to cross up. Look for continuation to participate…..

Adobe, Ticker: $ADBE

Adobe, $ADBE, comes into the week printing a Doji Hammer reversal candle. The RSI is oversold with the MACD negative and falling. Look for a move higher to participate…..

Alaska Air, Ticker: $ALK

Alaska Air, $ALK, comes into the week moving over the 200 day SMA. It has a RSI rising in the bullish zone and a MACD positive and climbing. Look for continuation to participate…..

American Express, Ticker: $AXP

American Express, $AXP, comes into the week reversing from a short term pullback. The RSI is rising in the bullish zone with the MACD positive and turning higher. Look for continuation to participate…..

Phillips 66, Ticker: $PSX

Phillips 66, $PSX, comes into the week nearing resistance. It has a RSI rising into the bullish zone and a MACD about to turn 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 only one quarter of the year remaining, saw equity markets staging their biggest pullbacks since the spring.

Elsewhere look for Gold to consolidate while Crude Oil consolidates in an uptrend. The US Dollar Index continues to trend higher while US Treasuries pullback. The Shanghai Composite looks to continue in consolidation while Emerging Markets trend lower but are at support.

The Volatility Index looks to at moderate levels making things more difficult for equities to improve. Their charts remain mixed with the SPY and QQQ strong with digestive pullbacks on the longer timeframe, but in downtrends on the shorter timeframe. The IWM remains in its long sideways consolidation. Use this information as you prepare for the coming week and trad’em well.

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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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