Top Trade Ideas for the Week of January 27, 2014: The Rest

• Posted by Greg Harmon
• on January 26th, 2014

Here are the Rest of the Top 10:

Generac, Ticker: $GNRC

Generac, $GNRC, is an oversold reversal play. Plain and simple. Look for a move over the Hammer for an entry.

Home Bancshares, Ticker: $HOMB

Home Bancshares, $HOMB, pulled back from a top at 39 but has been consolidating above prior support and below 35 for two weeks. Look for a break of the range.

Regal Entertainment, Ticker: $RGC

Regal Entertainment, $RGC, has been moving higher in a rising wedge for 9 months and is now testing the top. Look for a break out or fail.

Rovi, Ticker: $ROVI

Rovi, $ROVI, moved higher from the November low and out of consolidation. After closing the gap from August 1st, it has consolidated again and is starting to move higher.

Sonic, Ticker: $SONC

Sonic, $SONC, had a long run higher, peaking December. Friday it broke the 100 day SMA and a made a new low.

Up Next: Bonus Idea

The Best

If you like what you see in these set ups and want more detailed analysis and how to trade them, sign up using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits feed.

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, closing out January sees the equity markets looking like they need to pullback or at best consolidate. Specifically look for Gold and Crude Oil to continue higher. The US Dollar Index seems content to move sideways while US Treasuries are biased to the upside. The Shanghai Composite looks to be reversing higher and Emerging Markets are biased to continue the downside. Volatility looks to remain subdued but moving toward important levels keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, but with less strength. Their charts show that the SPY is the weakest and looks better to continue lower while the IWM and QQQ look a bit stronger in the longer timeframe but could also continue to pullback. 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 January 2014 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