Top Trade Ideas for the Week of March 21, 2011: The Rest

• Posted by Greg Harmon
• on March 20th, 2011

Here are the rest of the ideas for the week:

Delcath Systems Ticker:$DCTH

Delcath has been in an ascending triangle with a top at 7.12 since its fall from the highs in late February. If it can get over 7.15 then it has resistance at 8, followed by 8.73. The Moving Average Convergence Divergence (MACD) is crossing higher and the Relative Strength Index (RSI) is climbing to support a move higher.

Fuel Systems Solutions, Ticker:$FSYS

Fuel Systems is rising from bear flag. If it can continue to rise there is resistance at 25.60 followed by 27.30 and then 28. The MACD is crossing positive and bullishly and the RSI is starting a steep rise. both supporting a move higher. A stop can be placed at 23.80.

Noranda Aluminum, Ticker:$NOR

Noranda Aluminum is heading higher to resistance at 15.12 with resistance higher at 16 beyond that. The RSI is moving higher and the MACD is improving, supporting more upside. A stop can be placed at 14.

Jefferies Group, Ticker:$JEF

Jefferies had a big day Friday moving higher to the 200 day Simple Moving Average (SMA). If it can get over 24.20 then resistance comes first at 25 and then 26. Both the RSI and MACD shifted steeply bullish on Friday supporting more upside. A stop can be placed at 23.80. Earnings are reported on Tuesday.

Charles River Labs, Ticker:$CRL

Charles River Labs broke above resistance at 39 Friday. It is now moving higher, and if it can get over 39.80 has resistance first at 41.65. Here as well the RSI and MACD look to facilitate more upside.

Up Next: Bonus Idea

The First Five

(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, Crude Oil and US Treasuries to move higher, with the US Dollar Index continuing lower. The Shanghai Composite and Emerging Markets appear to need more time to consolidate with China biased higher and Emerging markets lower. The Volatility Index looks to continue higher and make for an environment where US Equity ETF’s, SPY, IWM and QQQQ, will continue lower for the week if not right form Monday.

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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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