5 Trade Ideas for Monday: ACADIA, Amex, Honeywell, Intercontinental Exchange and Keurig Dr Pepper

• Posted by Greg Harmon
• on November 29th, 2020

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

ACADIA Pharmaceuticals, Ticker: $ACAD

ACADIA Pharmaceuticals, $ACAD, pulled back from a July top and bottomed in September. Since then it has moved higher to retest the prior high. The RSI is into overbought territory with the MACD rising and positive. Look for a push to new highs to participate…..

American Express, Ticker: $AXP

American Express, $AXP, broke down from consolidation at the end of October and then quickly reversed to break out higher. It sits at resistance with the RSI flat in the bullish zone and the MACD rising. Look for a push over resistance to participate…..

Honeywell, Ticker: $HON

Honeywell, $HON, was moving higher, making higher lows and higher highs until a gap up earlier this month. It has been consolidating under resistance since. The RSI is strong in the bullish zone with the MACD flat and positive. Look for a push over resistance to participate…..

Intercontinental Exchange, Ticker: $ICE

Intercontinental Exchange, $ICE, ran to a top in September in two steps. It pulled back to the 200 day SMA from there and found support at the end of October. It is now making a higher high as t heads toward the September top. The RSI is rising in the bullish zone with the MACD positive and moving higher. Look for a push over resistance to participate…..

Keurig Dr. Pepper, Ticker: $KDP

Keurig Dr. Pepper, $KDP, climbed higher from the March low and stalled out in July at a new high. It pulled back and settled into consolidation from there. Friday saw it peek over the top with the RSI rising in the bullish zone and the MACD positive and moving higher. 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 first week of December, sees equity markets have moved out of consolidation and are showing strength.

Elsewhere look for Gold to continue its pullback while Crude Oil drives higher. The US Dollar Index continues to move to the downside while US Treasuries resume the move lower. The Shanghai Composite looks to continue press against resistance while Emerging Markets trend to the upside.

The Volatility Index looks to continue towards a new lower range making the path easier for equity markets to the upside. Their charts are looking strong again, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY are starting to break ranges higher with the IWM leading them to the upside. 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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