5 Trade Ideas for Monday: Abbott Labs, Crown Castle, E*Trade, Facebook & Union Pacific

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Abbott Labs, Ticker: $ABT

Abbott Labs, $ABT, started higher in May out of a brief consolidation. It pulled back to test the 50 day SMA in August and continued higher to a top in October. From that top it pulled back to the lower Bollinger Band® and bounced to start November. Now it is back at the prior high and looking for more. The RSI is rising in the bullish zone with the MACD crossed up. Look for a new high to participate…..

Crown Castle, Ticker: $CCI

Crown Castle, $CCI, rose off of a low in August making a top at the end of the month. It pulled back from there to the 100 day SMA in late September and then reversed higher again. A gap up in early November led to a top and it has been consolidating under resistance since. The RSI starting back higher in the bullish zone with the MACD leveling after resetting lower. Look for a break over resistance to participate higher…..

E*Trade, Ticker: $ETFC

E*Trade, $ETFC, started higher off of its 50 day SMA in June. It peaked in July and then fell back to the 50 day SMA for a double bottom over the period from August to September. Another leg higher topped in October and it pulled back to the 50 day SMA again in November. It is no rising to that October higher with the RSI back in the bullish zone and the MACD crossed up and rising. Look for a push to a new high to participate…..

Facebook, Ticker: $FB

Facebook, $FB, made a high at the end of July and then moved sideways for 3 months. At the end of October it started higher again stalling at the start of November. The pullback was shallow though and it reversed finding itself back at the high to end last week. The RSI is in the bullish zone and the MACD is about to cross up. Look for a new high to participate…..

Union Pacific, Ticker: $UNP

Union Pacific, $UNP, started higher in August, reaching a peak in late September. The pullback found support at the 50 day SMA and reversed back higher in October. But that move ended quickly, turning to consolidation and a mild pullback. Last week it reversed back higher and ended the week at the prior high. The RSI is also moving higher in the bullish zone and the MACD is about to cross up. Look for a new high to participate…..

Up Next: Bonus Idea

The Best

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.

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 Thanksgiving behind and the holiday season is in full swing, usually meaning light trading for equity markets. But light or not, equities come into the season ready to party and looking strong.

Elsewhere look for Gold to consolidate marking time while Crude Oil continues its move higher. The US Dollar Index is renewing its downtrend while US Treasuries are drifting higher, trying to make a new high. The Shanghai Composite is pausing while Emerging Markets are renewing their trend higher.

Volatility is back to very low levels keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts all look strong on the weekly timeframe. On the daily frame though the SPY appears to be strongest with the QQQ at some resistance and the IWM consolidating. Despite the moves higher, Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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.

blog comments powered by Disqus
Dragonfly Caps Blog