5 Trade Ideas for Monday: Abbvie, Bath & Body Works, Comerica, Crowdstrike and McKesson

• Posted by Greg Harmon
• on May 19th, 2024

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

Abbvie, Ticker: $ABBV

Abbvie, $ABBV, comes into the week rounding out of a pullback from a top in March. It has a RSI rising through the midline with the MACD moving up. Look for continuation to participate…..

Bath & Body Works, Ticker: $BBWI

Bath & Body Works, $BBWI, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Comerica, Ticker: $CMA

Comerica, $CMA, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Crowdstrike, Ticker: $CRWD

Crowdstrike, $CRWD, comes into the week holding over support. It has a RSI rising in the bullish zone with the MACD positive. Look for continuation to participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week at an all-time high. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Up Next: Bonus Idea

The Best

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.   

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 options expiry in the books, saw equity markets with renewed strength moving to new all-time highs.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a pullback. The US Dollar Index continues to pullback in its short term uptrend while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue the short term move higher while Emerging Markets build a short term uptrend.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY are now consolidating moves to new all-time highs with the IWM closing in on 2½ year highs. 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.

blog comments powered by Disqus