Top Trade Ideas for the Week of April 18, 2011: Bonus Idea

• Posted by Greg Harmon
• on April 17th, 2011

Here is your Bonus Idea with links to the full Top 10:

NutriSystem, Ticker:$NTRI

The First 5

NutriSystem got crushed after reporting earnings in late February. Since then it has been consolidating just under a 23.6% retracement of the move from the close before the gap to the low point. The Relative Strength Index (RSI) has has been steadily moving up and is now at the mid line and leveling. The Moving Average Convergence Divergence (MACD) indicator has moved positive and is steady. As this is developing the price has been moving in a tightening range under 14.61. If it can get through that level look for a quick move higher to 15.64 the 38.2% retracement and then 16.46, a 50% retracement. Above that there is resistance at 17 from September 2010 and 17.29 before the 18.50 level from January and February. Wait for the trigger and then use the break out level as the stop.

The Rest

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

After reviewing over 700 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 looks for Gold and Crude Oil to continue higher with the possibility of further consolidation first for Oil. The US Dollar Index looks to continue lower while US Treasuries test resistance higher. The shanghai Composite may pause before moving higher and the Emerging Markets in a range. Low and subdued Volatility should continue creating a good environment for the equity indexes SPY, IWM and QQQ. Both the SPY and IWM look to be heading higher but the QQQ may need further consolidation. Use this information to understand the major trend and how it may be influenced as you prepare for the coming week ahead. Trade’m 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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