5 Trade Ideas for Monday: Albemarle, Bank of NY, Gilead, Interactive Brokers and KBR

• Posted by Greg Harmon
• on May 22nd, 2022

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

Albemarle, Ticker: $ALB

Albemarle, $ALB, comes into the week at resistance. It has a RSI holding in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

Bank of New York Mellon, Ticker: $BK

Bank of New York Mellon, $BK, comes into the week in consolidation. It has a RSI trending higher with a MACD also moving to the upside but negative. Look for a push over consolidation to participate…..

Gilead Sciences, Ticker: $GILD

Gilead Sciences, $GILD, comes into the week at resistance. It has a RSI rising in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

Interactive Brokers, Ticker: $IBKR

Interactive Brokers, $IBKR, comes into the week bouncing off a low at resistance. It has a RSI rising towards the midline with the MACD crossing up but negative. Look for a push over resistance to participate…..

KBR, Ticker: $KBR

KBR, $KBR, comes into the week in consolidation under resistance at the 200 day SMA. It has a RSI rising out of oversold territory with the MACD crossing up but negative. 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 May options expiration in the books, saw equity markets made new lows with the SPY reaching down into bear market territory, joining the IWM and QQQ, before rebounding at the close Friday.

Elsewhere look for Gold to possibly reverse higher while Crude Oil consolidates in an uptrend. The US Dollar Index is pulling back in its uptrend while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue the short term move higher while Emerging Markets continue the downtrend.

The Volatility Index remains elevated making the path easier for equity markets to the downside. Their charts look weak, especially on the longer timeframe as they dip into oversold territory. On the shorter timeframe both the QQQ and SPY sit at 52 week lows while the IWM is holding only slightly higher. 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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