Top Trade Ideas for the Week of September 8, 2014: The Rest

• Posted by Greg Harmon
• on September 7th, 2014

Here are the Rest of the Top 10:

Bristol-Myers Squibb, Ticker: $BMY

Bristol-Myers Squibb, $BMY, went through a long topping pattern from November until May before a pullback to the June low. Now trending higher it is at prior resistance with support for more upside from a rising RSI and MACD.

CBOE, Ticker: $CBOE

CBOE, $CBOE, has been on the trade list recently from the breakout in August. It is setting up now to give you a chance to add or get in if you missed it then. Consolidating the move from the August break out the RSI is rising and the MACD has avoided a cross down and is turning.

HollyFrontier, Ticker: $HFC

HollyFrontier, $HFC, started rising off of a bottom at 42 in July. The first leg was shorter but the second leg a 150% extension of the first. Now it is consolidating in a bull flag with a rising and bullish RSI and a MACD that is leveling after a pullback.

PNC Financial, Ticker: $PNC

PNC Financial, $PNC, had a strong run higher form October 2013 to the early July peak. The ensuing pullback found support at the 200 day SMA and it has moved higher since. Consolidating the first leg up at the cross of the 50 and 100 day SMA’s, it has support to break out higher from a rising and bullish RSI and a MACD that is also rising.

UPS, Ticker: $UPS

UPS, $UPS, had a strong run higher from February through to early June before a consolidation just over 100 and eventual pullback. That pullback found support and the stock has been rising since mid August now touching resistance at the gap down level from July for the third time, and from a higher low. The RSI is rising and on the edge of a move into the bullish zone with a MACD heading higher as well.

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 kids are back to school and the adults file back into work from vacations sees the equity markets looking strong but with short term consolidation likely. Elsewhere look for Gold to continue lower but not stray much from 1300 while Crude Oil consolidated in its downtrend. The US Dollar Index looks strong and higher while US Treasuries are biased lower in the uptrend. The Shanghai Composite is also strong and biased higher along with Emerging Markets. Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts show signs of consolidation in the short run with the SPY and QQQ a bit strong on the longer timescale. Use this information as you prepare for the coming week and trad’em well.

Get my book, Trading Options: Using Technical Analysis to Design Winning Options Trades.
____________________________________________________________________________________________________
Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through August 2014 Expiry and sign up here

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