5 Trade Ideas for Monday: Cincinnati Financial, Global Payments, Home Depot, Lockheed Martin and Packaging Corp.

Cincinnati Financial, Ticker: $CINF

Cincinnati Financial, $CINF, moved steadily higher off of a December low to make a new high at the start of March. It had a shallow pullback from there and has consolidated against resistance since. The RSI is rising up to the bullish zone with the MACD about to cross up and positive. Look for a push over resistance to participate…..

Global Payments, Ticker: $GPN

Global Payments, $GPN, rose off of a December bottom, pausing as it hit the 200 day SMA. It continued then to a new all-time high in the middle of March where it has been consolidating. The RSI has reset from overbought and the MACD is leveling and positive after a pullback. Look for a break of resistance to participate…..

Home Depot, Ticker: $HD

Home Depot, $HD, started higher off of a December low, meeting resistance at the end of February. It pulled back to the 50 day SMA and held. It then reversed and is now back at the prior resistance. The RSI is rising and bullish with the MACD moving higher and positive. Look for a push over resistance to participate…..

Lockheed Martin, Ticker: $LMT

Lockheed Martin, $LMT, rose off of a December low as well and made a high in March as it hit the November bounce level. It pulled back from there in a bull flag and Friday broke that to the upside. The RSI is turning back up and the MACD is about to cross up. Look for continuation to participate…..

Packaging Corporation of America, Ticker: $PKG

Packaging Corporation of America, $PKG, fell fast and hard in October. It had a solid bounce and consolidated in November but then fell to a lower low in December. Since then it has moved back higher and is now consolidating at that November bounce high. The RSI is holding over the mid line in the bullish zone with the MACD crossing back up and positive. 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 with the books closed on the 1st Quarter saw equity markets have a great 3 months but end the Quarter short of their all-time highs.

Elsewhere look for Gold to continue lower while Crude Oil pauses in its uptrend. The US Dollar Index looks to move up in the broad consolidation while US Treasuries are breaking higher. The Shanghai Composite and Emerging Markets are consolidating their gains.

Volatility looks to remain low easing pressure on the equity index ETF’s SPY, IWM and QQQ. Their charts are mixed now with the QQQ in a solid uptrend while the SPY consolidates sideways, with the IWM pulling back in a long bull flag. 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.