5 Trade Ideas for Monday: Deere, Estee Lauder, Fiserv, General Mills and Eli Lilly

• Posted by Greg Harmon
• on March 8th, 2020

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

Deere, Ticker: $DE

Deere, $DE, has made a series of lower lows since a top in November. It did so again last week but ended with a very large bullish engulfing candle stopping at resistance. The RSI is slowly trending higher with the MACD turning to cross up. Look for a break of resistance to participate….

Estee Lauder, Ticker: $EL

Estee Lauder, $EL, pulled back in 2 waves, finding support under the 200 day SMA and bouncing 2 weeks ago. It is now consolidating under the 200 day SMA with the RSI moving higher and the MACD leveling after a big drop. Look for a push over resistance to participate…..

Fiserv, Ticker: $FISV

Fiserv, $FISV, topped in February and then started to move lower. It broke the 200 day SMA last week but recovered to close over it. The RSI is falling and bearish with the MACD dropping and negative. Look for a new low to participate…..

General Mills, Ticker: $GIS

General Mills, $GIS, took a hit to the share price 2 weeks ago, but has now fully recovered, and is back at resistance. The RSI is rising into the bullish zone with the MACD crossed up and positive. Look for a push over resistance to participate…..

Eli Lilly, Ticker: $LLY

Eli Lilly, $LLY, started up out of a bottom in December. It continued to a top in early February and then started to pullback. It found a bottom 2 weeks ago and has reversed higher. Friday saw a bullish engulfing candle take the price to resistance. The RSI is rising and bullish with the MACD crossing up and near a move to 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 heading into the second week of March sees the equity markets remain in distress with volatile moves and pulling back.

Elsewhere look for Gold to continue higher while Crude Oil continues to the downside. The US Dollar Index looks to continue lower as well while US Treasuries make new highs. The Shanghai Composite continue higher in broad consolidation while Emerging Markets move lower.

The Volatility Index looks to remain at extreme levels keeping the pressure on equity markets. Their charts look weak, especially on the shorter timeframe. On the longer timeframe both the QQQ and SPY had indecision candles, perhaps a reversal, but also a possible continuation lower. The IWM looks much weaker but at support. 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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