5 Trade Ideas for Monday: Albemarle, Applied Materials, Activision Blizzard, Eaton and Illumina

• Posted by Greg Harmon
• on June 6th, 2021

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

Albemarle, Ticker: $ALB

Albemarle, $ALB, topped in January and then started to pullback. Now it is rounding higher and through resistance. The RSI is in the bullish zone and the MACD climbing. Look for continuation to participate…..

Applied Materials, Ticker: $AMAT

Applied Materials, $AMAT, started higher in November and ran to a top in April. After a pullback it is consolidating at resistance on a move higher. The RSI is rising into the bullish zone with the MACD positive and moving higher. Look for a push over resistance to participate…..

Activision Blizzard, Ticker: $ATVI

Activision Blizzard, $ATVI, comes into the week with the stock price at resistance. The RSI is rising in the bullish zone and the MACD avoided a cross down and is moving higher. Look for a push over resistance to participate…..

Eaton, Ticker: $ETN

Eaton, $ETN, has just gone up since making a pandemic low. It comes into the week at a short term resistance with the RSI rising in the bullish zone and the MACD crossing up. look for a push over resistance to participate…..

Illumina, Ticker: $ILMN

Illumina, $ILMN, comes into the week pushing resistance with the RSI rising in the bullish zone and the MACD positive and moving higher. look for continuation above resistance 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 since Summer has unofficially begun with the passing of Memorial Day, saw equity markets end the week stronger after large caps rebounded from a weak start.

Elsewhere look for Gold to continue its uptrend while Crude Oil moves to new multi-year highs. The US Dollar Index and US Treasuries continue to consolidate in their downtrends. The Shanghai Composite looks ready to continue higher while Emerging Markets resume their uptrend.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts show moves to the top of consolidation ranges on both timeframes. The QQQ looks the most promising on the shorter timeframe with the SPY next and the IWM building a tight pattern. On the longer timeframe all three are consolidating with strong momentum. 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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