5 Trade Ideas for Monday: Dunkin’, Fidelity National, Lilly, Union Pacific and Visa

• Posted by Greg Harmon
• on October 11th, 2020

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

Dunkin’ Brands, Ticker: $DNKN

Dunkin’ Brands, $DNKN, started higher in March and slowed as it approached the 200 day SMA in May. It consolidated there until beginning a second move higher in August. That move peaked at the beginning of October and it pulled back. Now it is back at the early October high with the RSI rising and bullish and the MACD lifting. Look for a push over resistance to participate…..

Fidelity National Information Services, Ticker: $FIS

Fidelity National Information Services, $FIS, has been slowly rising and approaching the February high. For the last month it has consolidated under resistance with the RSI now trying to move higher and the MACD flat. Look for a push over resistance to participate…..

Eli Lilly, Ticker: $LLY

Eli Lilly, $LLY, peaked in July and then began to pull back. It bottomed 2 weeks ago after crossing below the 200 day SMA. Now it is moving higher and through resistance. The RSI is bullish and rising and the MACD crossing to positive. Look for continuation to participate…..

Union Pacific, Ticker: $UNP

Union Pacific, $UNP, ran up to a top in June and then pulled back to the 50 day SMA. It resumed the move higher from there and topped again in September. A slight pullback to the 50 day SMA again saw a reversal and price back at resistance. The RSI is rising in the bullish zone with the MACD lifting higher. Look for a push over resistance to participate…..

Visa, Ticker: $V

Visa, $V, made a top in June and then turned into consolidation for the next 2½ months. It broke to the upside then and made a higher top in September. Since then it has pulled back and is consolidating under resistance. The RSI is rising in the bullish zone with the MACD turning up and positive. Look for a push over resistance to participate…..

Up Next: Bonus Idea

The Best

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.   

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 October options expiration, saw equity markets looking strong again.

Elsewhere look for Gold to continue its short term move higher while Crude Oil consolidates in a broad range. The US Dollar Index continues to move lower while US Treasuries pullback as well. The Shanghai Composite looks to continue in consolidation over support while Emerging Markets march to the upside. The Volatility Index looks to drift lower making the path easier for equity markets to the upside.

Their charts look strong on both timeframes. On the shorter timeframe both the QQQ and SPY are breaking above the consolidation ranges following the September swoon, while the IWM is leading the pack and ready to finally attack the February high. On the longer timeframe the SPY and QQQ are closing in on their all-time highs while the IWM may join them soon. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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.

blog comments powered by Disqus