5 Trade Ideas for Monday: Apple, General Dynamics, Green Dot, Veeva Systems & Zoetis

Apple, Ticker: $AAPLWealth Strength IndexAAPL is Extremely Up and trending Up

Apple, $AAPLWealth Strength IndexAAPL is Extremely Up and trending Up, started a move higher off of a June low and accelerated into August. It found a top at the end of the month and has consolidated in a descending triangle ever since. It has a RSI that is now rising in the bullish zone with the MACD about to cross up and positive. Look for a break of the triangle to participate higher…..

General Dynamics, Ticker: $GD

General Dynamics, $GD, had a sharp and fast pullback at the end of April. It bounced into May and the fell back to a lower low in the end of June. Since then it retested resistance and pulled back to a higher low and then ran back to resistance again. Last week it had an even shallower pullback before reversing to end the week at resistance. The RSI is rising and bullish and the MACD is turning up. Look for continuation to participate…..

Green Dot, Ticker: $GDOT

Green Dot, $GDOT, gapped up in May and has looked strong since. In August it moved higher off of a pullback to the 50 day SMA and consolidated when it made a new high. Two weeks ago it started up again and then digested that move last week. Friday it started higher again. The RSI is moving back up and bullish and the MACD is about to cross up and positive. Look for continuation to participate higher…..

Veeva Systems, Ticker: $VEEV

Veeva Systems, $VEEV, went through a long consolidation in the second quarter before expanding to a higher range-bound channel into the 3rd quarter. It broke that to the upside in August and ran to a higher consolidation in September. Last week it broke that to the upside. It has a RSI that is bullish and rising with a MACD turning to cross up. Look for continuation to participate…..

Zoetis, Ticker: $ZTS

Zoetis, $ZTS, has had many sideways consolidations in a long term trend higher. It started to move up out of the latest one at the end of last week. The RSI is rising and bullish and the MACD is crossed up and rising. Look for continuation to participate higher…..

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 as the books are closed on the 3rd Quarter, sees the equity markets taking a breather after making recent new highs.

Elsewhere look for Gold to continue lower in its downtrend while Crude Oil drives higher. The US Dollar Index may be ready to reverse higher while US Treasuries have bounced again at support and are now rising. The Shanghai Composite is also building a possible reversal higher while Emerging Markets continue to fall in a channel.

Volatility looks to remain very low keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts show digestive behavior, with sideways or slight pullbacks on the longer timeframe. On the shorter timeframe there has been continued rotation, now into the QQQ as the SPY pauses with the IWM still lagging. 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.