Top Trade Ideas for the Week of December 30, 2013: Bonus Idea

• Posted by Greg Harmon
• on December 30th, 2013

Here is your Bonus Idea with links to the full Top Ten:

PNC Financial Services, Ticker: $PNC

PNC Financial Services, $PNC, built a Cup and Handle pattern since August and us now triggering the most conservative level. It carries a target of 85.37. The Relative Strength Index (RSI) is bullish and rising with the MACD rising and crossed higher, both supporting more upside. The longer term picture sees it continuing on to 95 on a Measured Move.

Trade Idea 1: Buy the stock here (over 78) with a stop at 76.50.

Trade Idea 2: Buy the January 44.75 Calls (offered at $1.60 late Friday) and use the stops and triggers on the stock price as a guide.

Trade Idea 3: Buy the May 77.5 Calls ($3.45) as a longer term play.

Trade Idea 4: Buy the May 77.5/85 Call Spread ($2.69).

Trade Idea 5: Buy the May 77.5/85 Call Spread and sell the May 70 Put ($1.53).

Trade Idea 6: Buy the February 77.50/January 80 Call Diagonal ($1.76) and sell the February 72.5 Put (51 cents).

Premium Content
The Best

The Rest Premium

Free Content
The Rest

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. This week’s list contains the first five below to get you started early. {+++}These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which, as the year closes, sees the markets ready for a rest after a strong showing all year. Look for Gold to consolidate or continue in the trend lower while Crude Oil continues to the upside. The US Dollar Index looks to continue in the consolidation with an upward bias while US Treasuries may be ready for the big one to the downside. The Shanghai Composite and Emerging Markets remain biased to the downside with consolidation a possibility for the Chinese market. Volatility looks to remain very low keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, despite the VIX being biased higher. The individual charts of the equity indexes show the SPY looking strongest with the IWM and QQQ starting what could be pullbacks and over extended. Use this information as you prepare for the coming week and trad’em well.

Want to learn more about Dragonfly Capital Views?

Dragonfly Capital Views Performance Through December 2013 Expiry and sign up here for the free 7 day trial before you pay.

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