5 Trade Ideas for Monday: Canadian Solar, Denny’s, Horizon Therapeutics, Marathon Petroleum and ServiceNow

Canadian Solar, Ticker: $CSIQ

Canadian Solar, $CSIQ, pulled back from a top in early March, finding support at the 200 day SMA. It bounced from there and has made a series of higher lows and higher highs since. Coming into the week it is rising and near prior resistance. The RSI is also turning higher with the MACD about to cross up and positive. Look for continuation to participate…..

Denny’s, Ticker: $DENN

Denny’s, $DENN, started a move higher in April, and trended up to a top in early September. It pulled back from there to the 50 day SMA and found support. Now it is rising again with the RSI moving higher and the MACD turning up. Look for continuation to participate…..

Horizon Therapeutics, Ticker: $HZNP

Horizon Therapeutics, $HZNP, drifted lower to the 200 day SMA and based there until a bounce in August. That stalled short of the prior high and pulled back. Now it is moving higher again with the RSI rising in the bullish zone and the MACD about to cross up. Look for continuation to participate…..

Marathon Petroleum, Ticker: $MPC

Marathon Petroleum, $MPC, trended lower from a top in September last year. It has bounced along the way with the last low in August. Now it is at short term resistance with the RSI rising in the bullish zone and the MACD rising and positive. Look for a push over resistance to participate…..

ServiceNow, Ticker: $NOW

ServiceNow, $NOW, rose off of a bottom in November. It gapped up in February and continued higher to a top in July. It has pulled back from there and is consolidating under resistance coming into the week. The RSI is moving higher towards the bullish zone with the MACD crossed up and about to turn positive. Look for a push over resistance to participate…..

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