5 Trade Ideas for Tuesday: BlackRock, Ingredion, IQVIA, Starbucks and Visa

• Posted by Greg Harmon
• on July 5th, 2021

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

BlackRock, Ticker: $BLK

BlackRock, $BLK, pulled back to the 50 day SMA in June and is now coming into the week breaking to a new high. The RSI is rising in the bullish zone with the MACD crossing up. Look for continuation to participate…..

Ingredion, Ticker: $INGR

Ingredion, $INGR, fell back into prior consolidation at the end of June and settled. It ended last week poking higher with the RSI rising and the MACD about to cross up. Look for continuation to participate…..

IQVIA, Ticker: $IQV

IQVIA, $IQV, made a top in June and then pulled back to the 20 day SMA. It ended last week moving higher to resistance with the RSI rising and bullish while the MACD is crossing up. Look for a push through resistance to participate…..

Starbucks, Ticker: $SBUX

Starbucks, $SBUX, settled into a tight consolidation over the 100 day SMA as it pulled back from a top. It ended the week pressing through resistance with the RSI rising in the bullish zone and the MACD lifting off zero. Look for continuation to participate…..

Visa, Ticker: $V

Visa, $V, made two touches at the 50 day SMA over the last 2 months and ended the week moving to a new high. The RSI is rising in the bullish zone with the MACD lifting from level. 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 with the books closed on the 2nd Quarter and heading into the 4th of July weekend, sees equity markets looking very strong on the large cap and tech focused indexes.

Elsewhere look for Gold to possibly move back higher while Crude Oil continues the uptrend. The US Dollar Index continues to rise in broad consolidation while US Treasuries pause in their reversal higher. The Shanghai Composite looks to remain in broad consolidation while Emerging Markets consolidate broadly over long term support.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe with the SPY and QQQ re-invigorating uptrends while the IWM continues to hold up in consolidation. On the shorter timeframe both the QQQ and SPY are running high on momentum measures so both could see a short term consolidation or digestive move. The tight Bollinger Bands® on the IWM might play a role then. 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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