5 Trade Ideas for Monday: Bristol-Myers, CME, Fiserv, Microsoft and UPS

• Posted by Greg Harmon
• on June 7th, 2020

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

Bristol-Myers Squibb, Ticker: $BMY

Bristol-Myers Squibb, $BMY, fell to a bottom in March before reversing higher. It paused as it reached an historically important price zone in April and recoiled slightly. It then pushed over the zone only to fall back and retest the prior low. Now it is turning back higher with the RSI rising in the bullish zone and the MACD turning to cross up. Look for continuation to participate….

CME, Ticker: $CME

CME, $CME, started lower in March and found a bottom in the middle of the month. It consolidated for a week before moving higher. It stalled as it closed the March gap and has been in consolidation since. The RSI is rising into the bullish zone with the MACD lifting and positive. Look for a push over resistance to participate….

Fiserv, Ticker: $FISV

Fiserv, $FISV, took a short drop lower to a bottom in mid-March. The rise since has been slower and ran into a snag as it touched the 200 day SMA in May. It is back there again with the RSI rising into the bullish zone and the MACD flat but positive. Look for a push over resistance to participate….

Microsoft, Ticker: $MSFT

Microsoft, $MSFT, consolidated at the low for 2 weeks in March before moving higher. It continued higher until mid-May and has consolidated since. The RSI is running sideways in the bullish zone with the MACD level and positive. Look for a push higher to participate…..

UPS, Ticker: $UPS

UPS, $UPS, bottomed in March and then chopped around for 2 months. It started higher in May and continued through last week. It ended pushing resistance with the RSI rising in the bullish zone and the MACD positive and rising. Look for a continued 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 starting the month of June sees the equity markets showed renewed strength with significant moves higher.

Elsewhere look for Gold to continue its pullback while Crude Oil moves higher. The US Dollar Index continues to push to the downside while US Treasuries pullback as well. The Shanghai Composite looks to move higher in broad consolidation while Emerging Markets break to the upside.

The Volatility Index looks to continue to move lower putting a breeze at the back of the equity markets move to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe the QQQ is also strong printing a new all-time high with the SPY and the IWM drawing up as well. All are getting a bit overheated and may pause in the short term though. 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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