5 Trade Ideas for Tuesday: ACADIA Pharmaceuticals, Danaher, FMC, HD Supply and Nasdaq

• Posted by Greg Harmon
• on February 17th, 2020

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

ACADIA Pharmaceuticals, Ticker: $ACAD

ACADIA Pharmaceuticals, $ACAD, made a high in December and then started lower. It has consolidated under resistance since with a series of lower lows. The price comes into the week at resistance with the RSI rising in the bullish zone and the MACD positive and moving up. Look for a push over resistance to participate…..

Danaher, Ticker: $DHR

Danaher, $DHR, rose off of the 200 day SMA and kept going until it reached a top at the end of January. It has consolidated since. The RSI is rising in the bullish zone with the MACD turning back up after resetting lower. Look for a push over resistance to participate…..

FMC, Ticker: $FMC

FMC, $FMC, stepped up to a plateau in November, and held there for 2½ months. it started to pull back from there and quickly found support before reversing to a new high. It has consolidated there since. The RSI is holding in the bullish zone with the MACD flattening but positive. Look for a push higher to participate…..

HD Supply, Ticker: $HDS

HD Supply, $HDS, broke down below its 200 day SMA in June and held under there for nearly 8 months. It pushed higher in January and then topped, reversing 2 weeks ago. It ended last week moving back higher. The RSI is also turning higher in the bullish zone with the MACD avoiding a cross down and turning back up. Look for continuation to participate…..

Nasdaq, Ticker: $NDAQ

Nasdaq, $NDAQ, started higher off of the 50 day SMA in November. It continued to a top 2 weeks ago before pulling back. It ended last week with a reversal to the upside. The RSI is also reversing higher as the MACD turns to cross up after a reset lower. Look for continuation 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 the President’s Day holiday weekend, sees equity markets had another good week with strong moves to the upside.

Elsewhere look for Gold to continue to consolidate in an uptrend while Crude Oil reverses higher in consolidation. The US Dollar Index continues to move higher while US Treasuries consolidate in their uptrend. The Shanghai Composite looks to continue the short term move higher while Emerging Markets consolidate in a broad range.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts also look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY remain strong while the IWM struggles to reach the prior high. 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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