5 Trade Ideas for Monday: Anthem, Edwards Lifesciences, FedEx, intercontinental Exchange and Union Pacific

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

Anthem, Ticker: $ANTM

Anthem, $ANTM, stalled as it reclaimed the 200 day SMA in March. It consolidated until October then and finally moved to the upside into November. After a pullback it retested the top and then dropped back to the 200 day SMA. It launched higher in February, making a new high and then had a mild pullback to the 20 day SMA. Now it is moving higher. The RSI is also moving back higher with the MACD slowing as it resets lower. Look for continuation to participate…..

Edwards Lifesciences, Ticker: $EW

Edwards Lifesciences, $EW, paused at the 200 day SMA as it rose from the pandemic low. It consolidated and then made a move to a new high in September. It pushed against that 3 times before making a new high in at the end of last year. It pulled back to the 200 day SMA and then reversed. Now it is consolidating with the RSI rising in the bullish zone and the MACD positive and climbing. Look for a push over resistance to participate…..

FedEx, Ticker: $FDX

FedEx, $FDX, made a top in December and then pulled back in a rounded fashion. It is now moving higher and at resistance with the RSI in the bullish zone and the MACD rising and positive. Look for a push over resistance to participate…..

Intercontinental Exchange, Ticker: $ICE

Intercontinental Exchange, $ICE, went through a consolidation in from August to November before making a high in January. Since then it has consolidated in a symmetrical triangle. It pushed above that last week with the RSI rising in the bullish zone and the MACD positive and climbing. Look for continuation to participate…..

Union Pacific, Ticker: $UNP

Union Pacific, $UNP, pulled back to the 200 day SMA from a top in October. It bounced and moved back to that top and eventually broke higher in the New Year. After another pullback to a higher low, it is now in consolidation at the prior high. The RSI is in the bullish zone and the MACD is rising. 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 heading into April options expiration and earnings season, sees equity markets continue to show strength with the large cap stocks leading the way.

Elsewhere look for Gold to continue its short term move to the upside while Crude Oil continues to consolidate its long move higher. The US Dollar Index may continue to pullback in its uptrend while US Treasuries bounce in their downtrend. The Shanghai Composite looks to consolidate in its uptrend while Emerging Markets digest lower after their move higher.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe with the SPY leading the way then the QQQ rebounding and the IWM holding. On the shorter timeframe both the QQQ and SPY look strong as they move into new highs while the IWM continues its 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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