5 Trade Ideas For Monday: CSIQ, DENN, HZNP, MPC, NOW
Dragonfly Capital | Sep 23, 2019 12:34AM ET
Canadian Solar, Ticker: $CSIQ
Canadian Solar (NASDAQ: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 (NASDAQ: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 Pharma (NASDAQ: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…..
Get The News You Want
Marathon Petroleum, Ticker: $MPC
Marathon Petroleum (NYSE:MPC), $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 (NYSE: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.
Disclaimer: 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.
Original Post
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.