5 Trade Ideas for Monday:  Mastercard, NVIDIA, Oracle, Summit Materials and TD Bank

• Posted by Greg Harmon
• on May 7th, 2023

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

Mastercard, Ticker: $MA

Mastercard, $MA, comes into the week breaking resistance. It has a RSI rising in the bullish zone with the MACD positive and rising. Look for continuation to participate…..

NVIDIA, Ticker: $NVDA

NVIDIA, $NVDA, comes into the week at short term resistance. It has a RSI rising in the bullish zone with the MACD flat and positive. Look for a push over resistance to participate….

Oracle, Ticker: $ORCL

Oracle, $ORCL, comes into the week breaking resistance. It has a RSI rising in the bullish zone with the MACD curling to cross up and positive. Look for continuation to participate…..

Summit Materials, Ticker: $SUM

Summit Materials, $SUM, comes into the week breaking resistance. It has a RSI rising in the bullish zone with the MACD positive and climbing. Look for continuation to participate….

Toronto-Dominion, Ticker: $TD

Toronto-Dominion, $TD, comes into the week at resistance. It has a RSI rising at the edge of the bullish zone with the MACD about to turn positive. Look for a push through 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 with the May FOMC meeting in the books, saw that equity markets showed resilience with a rebound Friday erasing an ugly midweek slump.

Elsewhere look for Gold to continue its uptrend while Crude Oil holds in the low end of a consolidation range. The US Dollar Index continues to drift sideways at support while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue higher in consolidation while Emerging Markets consolidate.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. The charts of the QQQ and SPY look strong on the longer timeframe with the IWM in consolidation. On the shorter timeframe both the IWM and SPY look to try to break consolidation while the QQQ heads higher. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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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