5 Trade Ideas For Monday: Allstate, TD Ameritrade, Ciena, Olin And UPS

Allstate, Ticker: $ALL

Allstate, $ALL, started lower from a top in September. It accelerated into December, finding a bottom two weeks ago. Since then it has consolidated against resistance. Friday it moved over the 20 day SMA to that resistance. The RSI is rising towards the mid line with the MACD crossed up and moving higher. Look for a push over resistance to participate…..

TD Ameritrade, Ticker: $AMTD

TD Ameritrade, $AMTD, moved lower in a series of 3 major steps. it found a bottom 2 weeks ago and bounced. After stalling at the 20 day SMA for a few days, it resumed the path higher to resistance at the end of last week. The RSI is rising toward the bullish zone with the MACD crossed up and rising. Look for a push over resistance to participate…..

Ciena, Ticker: $CIEN

Ciena, $CIEN, started higher off of its 200 day SMA in June. In September it gapped up and paused before continuing to move higher, making higher lows along the way. The latest push higher from a December low ended last week at some short term resistance. It has a RSI in the bullish zone moving higher with the MACD positive and rising. Look for a push over resistance to participate…..

Olin, Ticker: $OLN

Olin, $OLN, fell out of consolidation in September and began a steady march lower. It found support at the end of October and has been moving mainly sideways in consolidation since. The RSI is rising into the bullish zone with the MACD about to go positive. Look for a push over resistance to participate…..

UPS, Ticker: $UPS

UPS, $UPS, started lower from a top in early September. It found support at the end of October and bounced to a lower high. From that early December high it fell much faster to a bottom 2 weeks ago. Since then it has proceeded higher and ended the week at short term resistance. The RSI is rising toward the mid line with the MACD crossed up and rising. Look for a push over resistance to participate…..

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 first full week of 2019 sees the equity markets have shown some short term strength but still have a long way to go to claim a reversal.

Elsewhere look for Gold to continue in its uptrend while Crude Oil joins it moving higher. The US Dollar Index will continue to move sideways while US Treasuries pause in their uptrend. The Shanghai Composite will continue to move lower while Emerging Markets may pause in their downtrend.

Volatility looks to continue to fall from elevated levels easing the pressure on the equity index ETF’s SPY, IWM and QQQ. Their charts look ready for more upside after a strong week with the IWM leading the charge and the QQQ and SPY not far behind. Use this information as you prepare for the coming week and trad’em well.

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.