5 Trade Ideas for Monday: Donaldson, Fiserv, Manitowoc, Sherwin-Williams and Scotts Miracle-Gro

• Posted by Greg Harmon
• on July 19th, 2020

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

Donaldson, Ticker: $DCI

Donaldson, $DCI, moved quickly to a low in March after topping in December. It recovered from there, rising to a top at the beginning of June, before a pullback. It ended last week moving back higher with the RSI rising into the bullish zone and then MACD crossed up and positive. Look for continuation to participate…..

Fiserv, Ticker: $FISV

Fiserv, $FISV, bottomed in March and then started to move higher. It slowed as it approached the 200 day SMA and then reversed lower again in June. It found support near the end of the month. Last week it finished making a higher high with the RSI rising and the MACD lifting and about to move to positive. Look for continuation to participate…..

Manitowoc, Ticker: $MTW

Manitowoc, $MTW, started lower in December, and finally found support in April. It consolidated there until reversing higher in May. The move higher stalled at the 200 day SMA and fell back. It touched the 50 day SMA and reversed higher. It ended last week moving up and with a RSI pushing into the bullish zone and MACD crossed up and rising. Look for a push over resistance to participate…..

Sherwin-Williams, Ticker: $SHW

Sherwin-Williams, $SHW, bottomed in March and headed higher in a strong trend. It reached the prior high by early June and stalled. It has consolidated since. Friday it broke consolidation to the upside with the RSI rising in the bullish zone and the MACD crossed up and positive. Look for continuation to participate…..

Scotts Miracle-Gro, Ticker: $SMG

Scotts Miracle-Gro, $SMG, started higher off of a March low and continued to a top in May. It pulled back from there through the 50 day SMA and found support, reversing back higher in late June. It comes into the week near resistance with the RSI rising in the bullish zone and the MACD moving higher and 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 the July Options expiration in the books, saw equity markets showed some rotation, out of technology and into small caps and, to a lesser degree, large caps.

Elsewhere look for Gold to consolidate in its uptrend while Crude Oil consolidates under resistance. The US Dollar Index continues to drift to the downside while US Treasuries rise in the consolidation range. The Shanghai Composite looks to continue the pullback in the uptrend while Emerging Markets pause in their uptrend.

The Volatility Index looks to continue to slowly move lower making the path easier for equity markets to the upside. Their charts continue to look strong, especially on the shorter timeframe. The QQQ looks to have given up the leadership role and is pausing, perhaps prepping for a pullback, while the SPY and IWM move up out of recent consolidation. 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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