5 Trade Ideas for Monday: Applied Materials, Bank of America, Fastenal, Intuitive Surgical, Zions Bancorporation

• Posted by Greg Harmon
• on July 31st, 2022

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

Applied Materials, Ticker: $AMAT

Applied Materials, $AMAT, comes into the week breaking short term resistance. The RSI is rising into the bullish zone with the MACD positive and moving higher. Look for continuation to participate…..

Bank of America, Ticker: $BAC

Bank of America, $BAC, comes into the week at resistance. The RSI is holding just below the bullish zone with the MACD positive and moving higher. Look for continuation to participate…..

Fastenal, Ticker: $FAST

Fastenal, $FAST, comes into the week at resistance. The RSI is holding just below the bullish zone with the MACD positive and moving higher. Look for continuation to participate……

Intuitive Surgical, Ticker: $ISRG

Intuitive Surgical, $ISRG, comes into the week at resistance. The RSI is holding in the bullish zone with the MACD positive and moving higher. Look for a break over to participate…..

Zions Bancorporation, Ticker: $ZION

Zions Bancorporation, $ZION, comes into the week at resistance. The RSI is holding just under the bullish zone with the MACD positive and moving higher. Look for a break 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 July in the books, saw equity markets were showing strength on the short term and on the cusp of a full blown reversal.

Elsewhere look for Gold to continue its short term move higher while Crude Oil consolidates. The US Dollar Index continues in a short term move lower while US Treasuries consolidate. The Shanghai Composite looks to continue in consolidation while Emerging Markets consolidate in the downtrend.

The Volatility Index looks to continue lower towards the normal range making the path easier for equity markets to the upside. Their charts look strong, especially on the shorter timeframe. On the longer timeframe both the IWM and SPY are approaching key levels to confirm an intermediate term reversal. The QQQ did confirm a reversal and now needs to show follow through. 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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