Top Trade Ideas for the Week of October 6, 2014: The Rest

• Posted by Greg Harmon
• on October 5th, 2014

________________________________________________________________________________________________________________________________________________________________

Here are the Rest of the Top 10:

American Tower, Ticker: $AMT

American Tower, $AMT, is turning back higher after a pullback from just short of 100. The turn establishes an AB=CD pattern with a target of 112. The MACD is about to cross up and the RSI is starting back higher.

Conagra, Ticker: $CAG

Conagra, $CAG, topped with a ‘W’ 2 weeks ago and pulled back. But last week it printed a hammer reversal candle Thursday and confirmed it higher Friday with a move out of a bull flag. The RSI is moving back higher after holding at the mid line and the MACD has leveled and is turning up.

Cigna, Ticker: $CI

Cigna, $CI, made a double bottom at 88, just above the 200 day SMA. The reversal higher Friday confirmed the Hammer candle Thursday and came on strong volume. The RSI is moving back higher and the MACD is leveling, halting the decline.

Skyworks Solutions, Ticker: $SWKS

Skyworks Solutions, $SWKS, has trended higher since November. The pullback last week touched the 50 day SMA and found support, with Friday’s move confirming the Hammer reversal candle higher. The RSI is moving back higher but the MACD is falling hard.

Weyerhaeuser, Ticker: $WY

Weyerhaeuser, $WY, made a short term double bottom over 31.50 last week. Friday’s move higher is over the short term resistance as the RSI is moving back up and the MACD is about to cross up.

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. As always you can see details of individual charts and more on my StockTwits feed and on chartly.

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, as the calendar turns to October sees the equity markets have weathered a pullback, but are still not totally out of trouble. Elsewhere look for Gold and Crude Oil to continue their pullbacks. The US Dollar Index and US Treasuries look to continue to move higher. The Shanghai Composite is strong and looks good for more upside while and Emerging Markets are biased to the downside with the possibility of a bounce. Volatility looks to remain subdued, keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts all printed short term reversals higher, but look weaker on the longer timeframe. Play the reversals with caution for this week. Use this information as you prepare for the coming week and trad’em well.

Dragonfly Capital Views Anniversary Celebration

For a limited time the Opportunity to join the Dragonfly Capital Views Premium Membership on an Annual basis is available for only $618. And every new Annual or converted subscription gets a free copy of my book.

This is nearly 20% off of the standard annual subscription price and over 40% off of a rolling monthly membership! Plus you get my book. Don’t miss this limited opportunity! Sign up here.

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