5 Trade Ideas for Monday: Ashland Global, Chemed, Fiserv, Generac and Global Payments

• Posted by Greg Harmon
• on April 12th, 2020

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

Ashland Global, Ticker: $ASH

Ashland Global, $ASH, made a low in the back half of March. It started higher and stalled at the 20 day SMA, before a second move up. The RSI is rising toward the bullish zone with the MACD moving up. Look for continuation to participate…..

Chemed, Ticker: $CHE

Chemed, $CHE, broke above resistance and separated from the 50 day SMA Friday. The RSI is rising into the bullish zone with the MACD crossed up and positive. Look for continuation to participate…..

Fiserv, Ticker: $FISV

Fiserv, $FISV, made a low in March and then started higher. It stalled at the 20 day SMA and then made a second move to resistance. The RSI is rising through the mid line with the MACD moving higher. Look for continuation to participate…..

Generac, Ticker: $GNRC

Generac, $GNRC, crossed below the 200 day SMA and made a bottom. It has held tight to that 200 day SMA since until pushing up through resistance Friday. The RSI is rising toward the bullish zone with the MACD moving higher. Look for continuation to participate…..

Global Payments, Ticker: $GPN

Global Payments, $GPN, Hammered out a bottom in March and reversed to resistance. It fell back but then bounced again and ended last week back at resistance. The RSI is slowly rising at the mid line with the MACD moving higher. 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 Easter and April options expiration week, sees equity markets are showing strong moves higher.

Elsewhere look for Gold to continue its thrust higher while Crude Oil moves lower in broad consolidation. The US Dollar Index continues to move lower short term while US Treasuries pullback in their uptrend. The Shanghai Composite looks to continue in broad consolidation while Emerging Markets move higher.

The Volatility Index looks to remain high but moving lower making the path easier for equity markets to the upside. Their charts look strong, especially on the shorter timeframe. On the longer timeframe the IWM, QQQ and SPY could be starting reversal moves but it is early to call. 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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