5 Trade Ideas for Monday: Avalara, Blackstone, Fiserv, IQVIA and UPS

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

Avalara, Ticker: $AVLR

Avalara, $AVLR, fell below the 200 day SMA and confirmed a short term double top at the start of the month. It is now trying to reverse that with the RSI rising and the MACD about to cross up. Look for a push over resistance to participate…..

Blackstone Group, Ticker: $BX

Blackstone Group, $BX, started higher in November and continued to the current consolidation under resistance. It is re-approaching the top now with the RSI rising in the bullish zone and the MACD about to cross up. Look for a push over resistance to participate…..

Fiserv, Ticker: $FISV

Fiserv, $FISV, ran to a top in April after reversing off the 200 day SMA at the end of January. It pulled back from there, finding support at a higher low 2 weeks ago. It has been consolidating there since. The RSI is rising and the MACD about to cross up. Look for a move over resistance to participate…..

IQVIA, Ticker: $IQV

IQVIA, $IQV, broke up out of a descending triangle at the end of March and ran to a top at the end of April. It has consolidated there until a break higher last week. The RSI is rising in the bullish zone with the MACD turning back higher. Look for continuation to participate…..

UPS, Ticker: $UPS

UPS, $UPS, broke up out of a long channel in April and ran to the current high. It is in consolidation with the RSI pulling back and then MACD crossed down and falling. Look for a break of support 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 the May options expiration in the books, saw equity markets take a pause.

Elsewhere look for Gold to continue its move higher while Crude Oil consolidates in a tight range. The US Dollar Index continues to drift to the downside and 3½ year lows while US Treasuries consolidation in their downtrend. The Shanghai Composite looks to continue to drift sideways in a broad range while Emerging Markets consolidate over long term resistance in a tightening range.

The Volatility Index looks to remain low making the path easier for equity markets to the upside. Their charts have all shifted to consolidation now though on the longer timeframe, with the SPY the latest to join. On the shorter timeframe the SPY continues to look the strongest with the IWM in the long consolidation next and the QQQ with the most work left to do to return to bullish. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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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