Top Trade Ideas for the Week of April 28, 2014: The Rest

• Posted by Greg Harmon
• on April 27th, 2014

Here are the Rest of the Top 10:

Adobe Systems, Ticker: $ADBE

Adobe Systems, $ADBE, is moving lower after making a lower high. The RSI reversed at the mid line and the MACD is heading back lower after a brief rise. Look for more downside.

Ctrip.com, Ticker: $CTRP

Ctrip.com, $CTRP, broke through both support and all of the SMA on Friday, ending near the low of the week. There is a ‘M’ pattern in the works and the falling RSI and MACD support it continuing lower.

Jazz Pharmaceuticals, Ticker: $JAZZ

Jazz Pharmaceuticals, $JAZZ, moved higher out of a base last week, only to reject at the falling 50 day SMA. The RSI also turned back lower as the MACD leveled. The red Marubozu bodes for more downside.

Johnson Controls, Ticker: $JCI

Johnson Controls, $JCI, continued the trend lower last week, ending at a new 2 month low and below the 200 day SMA for the first time since December 2012. With the RSI and MACD both heading lower and moving into the bearish range there looks to be more downside.

Regeneron Pharmaceuticals, Ticker: $REGN

Regeneron Pharmaceuticals, $REGN, is heading lower in a 3 Black Crows pattern. It ended the week below the 200 day SMA on a strong red candle, boding for more downside. The RSI is falling back and the MACD has turned down and is about to cross down.

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 markets close out April, sees equities are looking weak. Elsewhere look for Gold to continue higher while Crude Oil takes a breather and retreats. The US Dollar Index looks better lower while US Treasuries are biased lower in the uptrend. The Shanghai Composite and Emerging Markets both are biased to the downside in the short term with the risk of both just consolidating. Volatility looks to remain low keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, despite the moves lower. Their charts suggest that the short term will feel some more pain with the QQQ weakest followed by the IWM and then the SPY. 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 April 2014 Expiry and sign up

Get my book, Trading Options: Using Technical Analysis to Design Winning Options Trades from Amazon.

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