5 Trade Ideas for Tuesday: Allstate, Amgen, Dunkin’ Brands, Oshkosh & Terex

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

Allstate, Ticker: $ALL

Allstate, $ALL, rose up form a pullback in September, breaking resistance at the end of October and accelerating. That move topped out in December and it pulled back in a channel to its 50 day SMA. Friday saw it push out of that channel to the upside. The RSI is moving back higher in the bullish zone with the MACD leveling after pulling back to near zero. Look for continuation to participate higher…..

Amgen, Ticker: $AMGN

Amgen, $AMGN, moved higher off of its 200 day SMA in November. It printed a Tweezers Top at the start of December and pulled back. It found support at a higher low and reversed stalling at the prior high but then pushing on and continuing last week. The RSI is bullish and rising with the MACD positive and moving higher. Look for continuation to participate higher…..

Dunkin’ Brands, Ticker: $DNKN

Dunkin’ Brands, $DNKN, started higher in September, pausing as it reached the June high and then continuing on to a new all-time high 2 weeks ago. Since that high it has pulled back in a falling wedge, breaking the wedge to the upside Friday. This gives a target to 66. The RSI is bullish and turning back higher with the MACD turning flat. Look for continuation to participate higher…..

Oshkosh, Ticker: $OSK

Oshkosh, $OSK, rose off of a bottom in June and after a stumble in August, ran to a top at the end of October. Since then it has been consolidating in a tightening range against that top and the 50 day SMA. The RSI is in the bullish zone and rising while the MACD is about to cross up. Look for a push over resistance to participate…..

Terex, Ticker: $TEX

Terex, $TEX, rose out of consolidation in September topping with a spike up near the end of October. It pulled back through the 50 day SMA into mid-November and then started higher again. After making a new all-time high it pulled back to a higher low and then reversed last week, ending back at that high. The RSI is rising in the bullish zone with the MACD about to cross up. Look for a push to a new high to participate…..

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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 heading into the 3 day weekend for Martin Luther King Day sees the equity markets continuing to fire on all cylinders.

Elsewhere look for Gold to continue in its uptrend while Crude Oil blazes its own path higher. The US Dollar Index is in trouble and may be on the verge of a break down while US Treasuries consolidate in a broad range. The Shanghai Composite and Emerging Markets have broken their consolidation to the upside and look to continue higher.

Volatility looks to remain at very low levels keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. The IWM has finally joined the party moving to new highs while the SPY and QQQ have continued to trade in tandem. Their charts all look strong on both the short and long time frame. 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.

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