It is Monday morning and stock market futures are trading lower by around -0.64% after energy talks in Saudi Arabia failed to give any stability to the oil price. As a result, crude oil is lower by -1.74%, it’s biggest drop in over a month and this has had a negative affect on stocks.
However, we think oil could rebound during the European and US session as the short-term recent trend has been mostly upward. We think this would also cause a rally in stocks with equities coming off a potential lower open.
Disregarding our own market opinion, here are 6 long trades that our computer has picked out for Monday 18th April.
Abbot Laboratories (ABT)
Altria Inc (MO)
Pepsico Inc (PEP)
MSCI Canada ETF (EWC)
7-10 Year Treasury Bond ETF (IEF)
United States Brent Oil ETF (BNO)
Our Top Pick
Our top pick for Monday goes to Altria Inc (MO) which we will look to purchase close to the open using our preferred spread bettor.
The stock is currently suffering a pullback in the midst of a strong upward trend and recent price action suggests the downward move could be nearing it’s conclusion. We will be looking to hold the trade for 1-3 days.