5 Trade Ideas for Monday: Ambarella, Avantor, Graco, IQVIA and Zendesk

• Posted by Greg Harmon
• on April 4th, 2021

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

Ambarella, Ticker: $AMBA

Ambarella, $AMBA, started higher out of a long base in November. It continued to a high in February before pulling back. That found support and reversed last week. The RSI also reversed higher with the MACD curling to cross up. Look for continuation to participate…..

Avantor, Ticker: $AVTR

Avantor, $AVTR, has been continually moving higher off the pandemic low. It has paused to consolidate several times along the way. It is currently in consolidation under resistance with the RSI rising in the bullish zone and the MACD positive and climbing. Look for a push over resistance to participate…..

Graco, Ticker: $GGG

Graco, $GGG, ran to a top in January before pulling back. It has since made two moves lower where it found support and reversed up to resistance. The RSI is rising in the bullish zone and the MACD is positive and moving higher. Look for a push over resistance to participate…..

IQVIA, Ticker: $IQV

IQVIA, $IQV, slowed the pace higher when it crossed the 200 day SMA in May. It continued to a top in February and then settled into consolidation. It broke that consolidation Thursday with a move higher. The RSI is rising in the bullish zone with the MACD positive and moving higher. Look for continuation to participate…..

Zendesk, Ticker: $ZEN

Zendesk, $ZEN, continued to move higher until making a top in early February. It has pulled back from there and settled into consolidation into March. It held there until a push higher Friday. The RSI is rising in the bullish zone with the MACD crossed up but still negative. 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 first Quarter of 2021 in the books, saw equity markets painting a mixed picture, but broadly positive.

Elsewhere look for Gold to possibly reverse out of consolidation to the upside while Crude Oil pauses in its uptrend. The US Dollar Index continues in the short term uptrend while US Treasuries are pausing in their downtrend, and possibly reversing higher. The Shanghai Composite is also looking at a possible reversal to the upside while Emerging Markets pullback in their uptrend.

The Volatility Index looks to remain very low and possibly move lower, making the path easier for equity markets to the upside. Their charts look strong on the longer timeframe, led by the SPY. There looks to be a rotation going back into the QQQ as the IWM marks time. On the shorter timeframe both the QQQ and IWM lag the SPY again with the IWM looking stronger than the QQQ on this scale. 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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