5 Trade Ideas for Monday: Cincinnati Financial, DaVita, Generac, JB Hunt and Lockheed

• Posted by Greg Harmon
• on May 2nd, 2021

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

Cincinnati Financial, Ticker: $CINF

Cincinnati Financial, $CINF, moved up off a touch at the 50 day SMA in February to a top in March. It has rounded out of a pullback since and is making a push over resistance into the new week. The RSI is rising in the bullish zone with the MACD lifting and positive. Look for continuation to participate…..

DaVita, Ticker: $DVA

DaVita, $DVA, ran from the 50 day SMA in late October to a top in January. It pulled back to a higher low and then reversed in late February. It paused in March and now has continued higher through resistance Friday. The RSI is rising in the bullish zone with the MACD positive and climbing. Look for continuation to participate…..

Generac, Ticker: $GNRC

Generac, $GNRC, made a top in February and then pulled back. It settled into consolidation and has remained there since. The RSI is oscillating around the mid line with the MACD flat but positive. Look for a break of consolidation to participate…..

JB Hunt Transport, Ticker: $JBHT

JB Hunt Transport, $JBHT, came off a November low to reach a high in April. This was also a failed break to the upside over resistance. The stock has been consolidating for a month with the RSI holding over the mid line and the MACD level after pulling back. Look for a push over resistance to participate…..

Lockheed Martin, Ticker: $LMT

Lockheed Martin, $LMT, rose from a bottom in February and continued to a top 2 weeks ago. It pulled back to a higher high and then reversed at the end of last week. The RSI is also rising with the MACD level after resetting lower. 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 in the books sees equity markets continue to show strength, particularly in the larger caps.

Elsewhere look for Gold to pause in the reversal higher while Crude Oil consolidates in its uptrend. The US Dollar Index continues to trend lower while US Treasuries possibly resume their downtrend. The Shanghai Composite looks to continue the slow drift sideways while Emerging Markets consolidate in their uptrend.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts look strong, especially the SPY and QQQ on the longer timeframe. The IWM remains in consolidation long term. On the shorter timeframe all three index ETFs have moved to a sideways consolidation. 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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