5 Trade Ideas for Monday: Crown Castle, R1 RCM, SBA Communications, Skyline Champion and TerraForma Power

• Posted by Greg Harmon
• on January 12th, 2020

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

Crown Castle, Ticker: $CCI

Crown Castle, $CCI, made a top in September and started to pull back. A small bounce found resistance at the end of the month and then it moved lower. Now it is back at that resistance with the RSI rising and bullish and the MACD turning up and positive. Look for a push over resistance to participate…..

R1 RCM, Ticker: $RCM

R1 RCM, $RCM, was a top 10 pick 2 weeks ago and had a false trigger. Now it is back at the trigger with the RSI rising and bullish and the MACD trying to turn up and positive. Look for a push over resistance to participate…..

SBA Communications, Ticker: $SBAC

SBA Communications, $SBAC, had a long run end with a top in September. it pulled back from there to find support at the 200 day SMA and is now moving higher. As it meets resistance the RSI is rising and bullish with the MACD positive and moving up. Look for a push over resistance to participate…..

Skyline Champion, Ticker: $SKY

Skyline Champion, $SKY, has been trending higher since making a bottom December 2018. Since May it has risen along trend support and is lifting off of that now. The RSI is rising and bullish with the MACD turning up and positive. Look for continuation to participate…..

TerraForm Power, Ticker: $TERP

TerraForm Power, $TERP, also rose from a December 2018 low. It peaked in September and pulled back, finding support at the 200 day SMA. It is now moving up to resistance with the RSI rising in the bullish zone and the MACD crossed up and moving higher. Look for a push over resistance 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 saw with the first full week of the New Year in the books, equity markets ranging from being a bit extended to digesting the move in a pullback.

Elsewhere look for Gold to pause in its uptrend while Crude Oil pulls back in consolidation. The US Dollar Index continues in a short term decline while US Treasuries pause in their downtrend. The Shanghai Composite looks to pause in its move higher while Emerging Markets continue to drive higher.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts are mixed with the IWM pulling back in the short term while the SPY and QQQ digest new highs from Thursday. All look stronger on the longer timeframe. 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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