5 Trade Ideas for Monday: Cummins, DaVita, eBay, Global Payments and The Bancorp

• Posted by Greg Harmon
• on April 18th, 2021

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

Cummins, Ticker: $CMI

Cummins, $CMI, made a top in March and pulled back into consolidation. It ended last week at resistance with the RSI moving up and the MACD about to cross. look for a push over resistance to participate…..

DaVita, Ticker: $DVA

DaVita, $DVA, had a quick move up in November and then topped out in early January. It pulled back into February and then reversed to a lower consolidation. Friday it broke that to the upside. The RSI is rising in the bullish zone and the MACD positive and rising. Look for continuation to participate…..

eBay, Ticker: $EBAY

eBay, $EBAY, broke consolidation and made a top pin February. It pulled back to the 200 day SMA and then reversed, pushing to a higher high to end last week. The RSI is rising and bullish with the MACD positive and climbing. Look for continuation to participate…..

Global Payments, Ticker: $GPN

Global Payments, $GPN, moved up off a November low to a top at the end of the year. It pulled back again from there, but last week ending pushing above that prior high. The RSI is rising in the bullish zone with the MACD positive and rising. Look for continuation to participate…..

The Bancorp, Ticker: $TBBK

The Bancorp, $TBBK, had a strong run higher to a top in March before pulling back. It has been rounding out a bottom since, breaking higher Friday. The RSI is rising in the bullish zone with the MACD crossed up and positive. 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 April options expiration in the books, saw large cap equity markets continue to show strength moving to all-time highs, with the small caps lagging behind in consolidation.

Elsewhere look for Gold to continue its reversal higher while Crude Oil moves out of consolidates to the upside. The US Dollar Index continues to pullback in its short term move higher while US Treasuries are rebounding in their downtrend. The Shanghai Composite looks to pause in its move higher while Emerging Markets consolidate the pullback in their uptrend 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 on the longer timeframe, especially the large caps. On the shorter timeframe both the QQQ and SPY driving higher in strong fashion, while the IWM consolidates just under the highs. 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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