5 Trade Ideas for Monday: BioMarin, Cerner, Cummins, PayPal and Visa

• Posted by Greg Harmon
• on December 15th, 2019

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

BioMarin Pharmaceuticals, Ticker: $BMRN

BioMarin Pharmaceuticals, $BMRN, had been moving lower for 9 months when it found a bottom in October. It has moved higher since and stalled when it reached the 200 day SMA. It has consolidated there for 3 weeks and pressed to resistance at the end of last week. The RSI is in the bullish zone with the MACD flat and positive. Look for a push over resistance to participate…..

Cerner, Ticker: $CERN

Cerner, $CERN, topped in July and then started a pullback that found support at the 200 day SMA. It rounded out of that bottom in November and met resistance. After a small pullback it is back at that resistance. The RSI is rising and bullish with the MACD flat but positive. Look for a push over resistance to participate…..

Cummins, Ticker: $CMI

Cummins, $CMI, started higher from the confluence of the 20, 50 and 200 day SMA’s in October. It met resistance in early November and has been building a wedge since. It has a RSI in the bullish zone with the MACD flat and positive. Look for a push over resistance to participate…..

PayPal, Ticker: $PYPL

PayPal, $PYPL, topped out in July and started to move lower. It crossed the 200 day SMA in September and found support in October on a day of extreme volume. Since then it has been consolidating against resistance. The RSI is rising into the bullish zone with the MACD positive and moving higher. Look for a push over resistance to participate…..

Visa, Ticker: $V

Visa, $V, rose from a December 2018 low to a top in July. Since then it has consolidated in a sideways channel. It ended last week at the top of that consolidation with the RSI rising in the bullish zone and the MACD flat but positive. Look for a push over 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 one full week before the holiday week and options expiration this week, sees equity markets are running higher on all cylinders.

Elsewhere look for Gold to consolidate in a bull flag while Crude Oil moves up in broad consolidation. The US Dollar Index looks to move lower in the short term while US Treasuries pause in their pullback. The Shanghai Composite looks to continue higher while Emerging Markets rise in consolidation.

Volatility looks to remain very low, keep the bias for the equity markets to the upside. Equities are following higher with that weight off of them. The SPY and QQQ, at all-time highs, look to continue higher. The IWM also looks good for more upside as it has broken a 14 month range. 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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