5 Trade Ideas for Monday: KKR, Old Dominion, The Bancorp, Waste Connections and Walmart

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

KKR, Ticker: $KKR

KKR, $KKR, started to slow in its move higher as it passed the February high in July. It morphed into a consolidation range and held there until breaking higher at the end of last week. The RSI is in the bullish zone with the MACD crossed up and positive. Look for continuation to participate…..

Old Dominion Freight Line, Ticker: $ODFL

Old Dominion Freight Line, $ODFL, continued to move off a March low until meeting resistance in early September. Since then it has moved in a broad consolidation. It ended last week at resistance with the RSI rising in the bullish zone and the MACD positive and climbing. Look for a push over resistance to participate…..

The Bancorp, Ticker: $TBBK

The Bancorp, $TBBK, broke over resistance in May and ran to a top in early June. It pulled back from there and settled eventually into a consolidation. It ended last week at resistance with the RSI rising in the bullish zone and the MACD lifting off of zero. Look for a push through resistance to participate…..

Waste Connections, Ticker: $WCN

Waste Connections, $WCN, spiked up in August and could not hold the move, ending the recovery from the March dip. It ran sideways for over 3 months before breaking higher at the end of last week. The RSI is in the bullish zone with the MACD lifting off zero. Look for continuation to participate…..

Walmart, Ticker: $WMT

Walmart, $WMT, whipped around after dropping in March. It moved in a wide range for some time until making a new high in April. From there it pulled back to the 200 day SMA and did not rebound until July. It stalled at the prior high and held until a breakout into September. It pulled back again and has held in a higher range. It comes into the new week at resistance with the RSI rising in the bullish zone and the MACD crossing up. 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 saw an eventful first week of November with a Presidential election, a FOMC meeting and a non-farm payrolls report to attack markets, result in them reacting like champs with impressive moves to the upside all week.

Elsewhere look for Gold to continue its move higher while Crude Oil consolidates in a broad range. The US Dollar Index looks to move lower in consolidation while US Treasuries remain in a downtrend. The Shanghai Composite looks to continue to consolidate while Emerging Markets break out to the upside.

The Volatility Index is moving back to a normal range making the path easier for equity markets to the upside. Their charts look strong, especially on the shorter timeframe. On the longer timeframe both the QQQ and SPY are back at resistance at all-time highs with the IWM trending higher towards its best print. 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.

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