5 Trade Ideas for Monday: Adobe, Amgen, CBOE, Disney and Sealed Air

• Posted by Greg Harmon
• on August 25th, 2019

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

Adobe, Ticker: $ADBE

Adobe, $ADBE, rose from a December low and met resistance in the end of April. It pulled back, consolidating the move, to a low at the end of May and then reversed. The move higher plateaued in July and it has pulled back again in August. The RSI is stalled and running flat as the MACD is avoiding a cross up with price on support. Look for a break down to participate…..

Amgen, Ticker: $AMGN

Amgen, $AMGN, bottomed in May after a break of support. It stalled on a move higher in early July and reversed to a higher low. It came back to retest resistance and then moved higher after a brief digestion. Since then it has consolidated but Friday fell back hard to support. The RSI is pulling back from overbought with the MACD about to cross down. Look for a break of support to participate…..

CBOE, Ticker: $CBOE

CBOE, $CBOE, has risen steadily out of a base ending in April. It has had a couple of consolidative pullbacks along the way to the current peak. As it sits on support the RSI is pulling back in the bullish zone with the MACD crossed down. Look for a break of support to participate….

Walt Disney, Ticker: $DIS

Walt Disney, $DIS, gapped up over resistance in April and rose to a peak. It could not hold and pulled back to support for the month of May. Another push higher made a higher high, but this also did not hold and it is now back at support. The RSI is into the bearish zone with the MACD failing to cross up. Look for a break of support to participate…..

Sealed Air, Ticker: $SEE

Sealed Air, $SEE, started higher in October and stalled into November. It pulled back to a higher low and reversed in December leading to a top in April. It pulled back from there and has been bouncing over support since. The RSI is falling in the bearish zone with the MACD falling and negative. Look for a continued drop through support 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 heading into the last week of August sees the equity markets have taken another body blow and are back at support.

Elsewhere look for Gold to continue in its uptrend while Crude Oil continues to move lower. The US Dollar Index looks to continue to drift higher while US Treasuries are pausing in their uptrend. The Shanghai Composite is giving a short term reversal higher while Emerging Markets continue to the downside.

Volatility continues to creep up keeping the bias lower for the equity index ETF’s SPY, IWM and QQQ. Their charts also show the SPY and QQQ continuing to move in tandem with the IWM weaker and lower. This has persisted since the December low. 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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