5 Trade Ideas for Tuesday: Apple, Capital One, Goldman Sachs, McKesson and Take-Two

• Posted by Greg Harmon
• on May 29th, 2023

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

Apple, Ticker: $AAPL

Apple, $AAPL, comes into the week rebounding to resistance. The RSI is rising in the bullish zone with the MACD curling back up and positive. Look for a push over resistance to participate…..

Capital One Financial, Ticker: $COF

Capital One Financial, $COF, comes into the week pressing higher. It has a RSI is in the bullish zone with the MACD rising and positive. Look for a push over resistance to participate…..

Goldman Sachs, Ticker: $GS

Goldman Sachs, $GS, comes into the week breaking resistance. It has a RSI rising toward the bullish zone with the MACD flat. Look for continuation to participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week pulling back from a top. It has a RSI retreating in the bullish zone with the MACD crossed down and positive. Look for continuation to participate…..

Take-Two Interactive, Ticker: $TTWO

Take-Two Interactive, $TTWO, comes into the week consolidating a gap up move. It has a RSI in the bullish zone with the MACD positive and rising. 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 Memorial Day Weekend and the start of summer trading, equity markets were mixed with Tech and Large Caps showing strength while Small Caps languished sideways.

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

The Volatility Index looks to remain low and stable making the path easier for equity markets to the upside. The charts of the SPY and QQQ look strong, especially on the longer timeframe. On the shorter timeframe the QQQ is strong as well with the SPY breaking out to join it. The IWM continues to be the problem child moving sideways for over 2 months now. 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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