5 Trade Ideas for Monday: AGCO, Discover, Global Payments, Oracle and UPS

• Posted by Greg Harmon
• on November 10th, 2019

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

AGCO, Ticker: $AGCO

AGCO, $AGCO, dropped hard and fast from a top in August. It found a bottom after breaking through the 200 day SMA and reversed higher. It is now approaching resistance with the RSI rising and bullish and the MACD positive and moving up. Look for a push over resistance to participate…..

Discover Financial, Ticker: $DFS

Discover Financial, $DFS, rose out of a consolidation in July and made a top at the end of the month. It pulled back to retest the consolidation zone and then reversed to a lower high into September. Another drop hit the 200 day SMA and reversed. it is rising as it comes into the week with the RSI bullish and climbing and the MACD positive and moving up. Look for a push over resistance to participate…..

Global Payments, Ticker: $GPN

Global Payments, $GPN, rose from a bottom in December and peaked in September. Over the past 3 months it has been in consolidation with a tightening range. The RSI is rising in the bullish zone with the MACD positive and moving higher. Look for a break of the range to participate…..

Oracle, Ticker: $ORCL

Oracle, $ORCL, hiccupped back down to the 200 day SMA in May and then drove higher to a top in July. It fell back from there, retesting the 200 day SMA in August before finding support. Since then it has been tightening a consolidation range and is back at the top. The RSI is rising and bullish with the MACD lifting off of the zero line. Look for a push over resistance to participate…..

UPS, Ticker: $UPS

UPS, $UPS, moved higher off of a low in May and stalled in July. It fell back to a higher low and then reversed to make a higher high in September. Another pullback found higher support and reversed to where it is today, making a higher high again. There RSI is rising in the bullish zone with the MACD positive and moving higher. 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 moving into November options expiration sees the bull market is back on in force, with the small caps on the edge of joining the party.

Elsewhere look for Gold to continue in its short term downtrend while Crude Oil consolidated. The US Dollar Index is drifting to the upside while US Treasuries continue to move lower. The Shanghai Composite looks to continue to hold tight around 3000 while Emerging Markets pause in their uptrend.

Volatility looks to remain very low keeping the bias to upside for the equity index ETF’s SPY, IWM and QQQ. The SPY and QQQ have broken out and are renewing the bull market while the IWM is on the cusp of a break out that could attract more buyers. 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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