5 Trade Ideas For Monday: Anthem, Apache, Costco, DaVita And Intuitive Surgical
Dragonfly Capital | Jul 09, 2018 12:34AM ET
Anthem (NYSE:ANTM)
Anthem, ANTM, ran higher, peaking at the end of January. It pulled back and then settled into a 5 month consolidation with a slight upward drift. Recently it pulled back from making a higher high to a higher low. And Friday it started moving higher again. The RSI is rising in the bullish zone with the MACD level but positive. Look for continuation to participate higher.
Apache (NYSE:APA)
Apache, APA, started higher in March and has continued to move up. Last week it closed a gap from January, ending the week at resistance. The RSI is in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate to the upside.
Costco (NASDAQ:COST)
Costco, COST, started higher out of consolidation in June and ran to an all-time high toward the end of the month. It pulled back from there to the 20 day SMA in a bull flag. Friday saw it breaking the bull flag to the upside. The RSI is rising in the bullish zone with the MACD flat but positive. Look for continuation to participate higher.
DaVita HealthCare (NYSE:DVA)
DaVita, DVA, moved higher over its 200 day SMA with a gap up in December. It ran to a top in January and then started to pullback. It bottomed as it moved under the 200 day SMA again and consolidated for a month. In May it started back higher again and is moving up in steps. Friday looks to have begun the next step up. The RSI is turning back up and the MACD leveling and positive. Look for continuation to participate.
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Intuitive Surgical (NASDAQ:ISRG)
Intuitive Surgical, ISRG, has continued to march higher but with some volatile pullbacks. It gapped higher in April and then refilled the gap before a push higher. The price paused in May and then made another move up in June to resistance. Friday it moved back to resistance after a minor pullback 2 weeks ago. The RSI is rising in the bullish zone with the MACD about to cross 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 4th of July behind, sees slow holiday trading ahead and it seems to be good for equities so far.
Elsewhere look for gold to bounce in its downtrend while Crude Oil may pause in its uptrend. The US Dollar Index is also pausing in its uptrend while US Treasuries are breaking out to the upside. The Shanghai Composite continues to look better lower but may have a short term pause while Emerging Markets may be reversing to the upside after a several months long pullback.
Volatility looks to continue to creep lower keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts all look good in the long term with the IWM the strongest in the short run, but the SPY and QQQ reversing higher out of support.
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.
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