5 Trade Ideas for Monday: Allstate, BioTelemetry, Cincinnati Financial, Coach and Hasbro

• Posted by Greg Harmon
• on November 13th, 2016

Here are the Rest of the Top 10:

Allstate, Ticker: $ALL

Allstate, $ALL, rose off of a bottom in January and ran higher through the end of June. Since then it has moved sideways under resistance at 70. Last week a mild pullback touched the 200 day SMA for the first time since February, and started back higher. It ended Friday at resistance again. The RSI moved higher into the bullish zone with the MACD rising. These support more upside. Look for a push through resistance to participate higher…..

BioTelemetry, Ticker: $BEAT

BioTelemetry, $BEAT, trended higher from a low in February to a top in August. The pullback that followed saw a reverse back to that August high for a double top before a reversal lower. Two weeks ago it touched the 200 day SMA and settled. It started back higher after the election and is back at the October bounce area. The RSI is pushing through the mid line and the MACD has crossed up. Look for a push over resistance to participate to the upside…..

Cincinnati Financial, Ticker: $CINF

Cincinnati Financial, $CINF, moved higher off of a low in January to a high in July. It changed character to a sideways consolidation then for the next 3 and a half months until breaking to the downside in October. The pullback found support at the 200 day SMA last week and reversed higher. The RSI is rising and at the mid line with the MACD crossed up and rising. Look for a push over resistance to participate to the upside…..

Coach, Ticker: $COH

Coach, $COH, started higher in October and finally made a top in July. It pulled back from there for 2 months before finding support at 35 and then turning sideways. It has been in consolidation since. Friday saw a rejection at the top of resistance but with the RSI making a higher high and near a move into the bullish zone. The MACD is rising. Look for a move over the top of resistance to participate to the upside…..

Hasbro, Ticker: $HAS

Hasbro, $HAS, found a top in April and went through a pullback. It found a low in October and has been moving higher ever since. Friday it made a higher higher. The RSI is in the bullish zone and rising with the MACD rising. Look for continuation to participate to the upside…..

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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 election in the rearview mirror and heading into the last full week before Thanksgiving and the holiday season begins, sees equity markets looking a bit mixed but positive.

Elsewhere look for Gold to continue lower while Crude Oil moves lower in the short term as well. The US Dollar Index looks strong and ready to challenge the 2015 highs while US Treasuries are biased continue lower. The Shanghai Composite is looking strong as it continues higher while Emerging Markets are at key support and looking weak if it does not hold.

Volatility looks to remain at lower normal levels now that the election has passed keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts are a bit mixed though with the IWM leading a charge higher towards new all-time highs while the SPY stalls just below highs and the QQQ struggles in consolidation. Use this information as you prepare for the coming week and trad’em well.

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