Top Trade Ideas for the Week of May 12, 2014: The Rest

• Posted by Greg Harmon
• on May 11th, 2014

Here are the Rest of the Top 10:

Boeing, Ticker: $BA

Boeing, $BA, is moving higher and into a relatively light previous price history area. The RSI is bullish and rising and the MACD continues to rise, both supporting the upside continuing out of the bull flag and into the gap.

CNOOC, Ticker: $CEO

CNOOC, $CEO, fell hard over the last quarter of 2013 and then made a base between 150 and 167. It is testing the top of that base now with a RSI that has moved into the bullish zone and a MACD that is level after a rise, as it consolidates.

Endo Pharmaceuticals, Ticker: $ENDP

Endo Pharmaceuticals, $ENDP, pulled back from a top at 82 to the 200 day SMA and then bounced. It is now consolidating at resistance with a RSI that has moved into the bullish zone and a MACD that is rising.

Lockheed Martin, Ticker: $LMT

Lockheed Martin, $LMT, made a kind of a rounded consolidation rather pulling back during the past 2 month market turmoil. It remains testing the resistance area with a rising MACD and a RSI that is in the bullish zone.

Visa, Ticker: $V

Visa, $V, pulled back 15% from the March basing area at 225 before bouncing. A quick retrace lower brought a higher low and now a higher high. The RSI and MACD are both rising as the Bollinger bands are opening higher.

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 Saturday which, heading into next week sees the equity markets becoming bifurcated. Elsewhere look for Gold to continue in a range along with Crude Oil although the latter has a bias to the upside short term. The US Dollar Index looks to continue to gain strength while US Treasuries are biased lower in the short term in their uptrend. The Shanghai Composite looks weak and is biased lower while Emerging Markets are biased to the upside in their consolidation range. Volatility looks to remain quite low keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts are not so enthusiastic though with the SPY the strongest and only looking to continue consolidation while the QQQ consolidates with a downside bias and the IWM looking for more downside. 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