Top Trade Ideas - Week Of July 21, 2014: JBL, JDSU, LNG, NTRS, PKOH
Dragonfly Capital | Jul 21, 2014 01:56AM ET
Here are the Rest of the Top 10:
Jabil Circuit, Ticker: JBL
Jabil Circuit (NYSE:JBL) had a long run higher beginning in May until peaking two weeks ago. After a shallow, almost sideways pullback, it got some life Friday and closed over the 20 day SMA. The MACD is leveling and the RSI is turning back higher.
JDS Unisphere, Ticker: JDSU
JDS Unisphere (NASDAQ:JDSU) fell hard after reporting earnings to start May, but has been grinding higher since. After touching the 100 day SMA 2 weeks ago it pulled back but found support near the 20 day SMA. Friday it started higher out of that consolidation. It has support for the upside from a rising RSI that held the mid line and a MACD that is turning back up and ready for a cross.
Cheniere Energy, Ticker: LNG
Cheniere Energy (ARCA:LNG) has been stair stepping higher since the start of 2011. The latest step allowed it to work off the technically overbought RSI and rest the MACD a bit lower. Both are now turning back up as the price jumped Friday to test the top of the consolidation zone. Short interest is high at almost 10%.
Northern Trust, Ticker: NTRS
Northern Trust (NASDAQ:NTRS) has been a favorite in the past, and it is ready to give another entry. The RSI is bullish and the MACD is about to cross up as the Bollinger bands open higher. All it needs is for the price to break the recent consolidation zone.
Get The News You Want
Park-Ohio, Ticker: PKOH
Park-Ohio (NASDAQ:PKOH) is back at resistance after retracing 61.8% of the move higher from February to April. The SMA’s are giving it a push up and the RSI is bullish with a MACD about to turn higher and cross up.
Up Next: Bonus Idea
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, heading into next week sees the equity markets are again mixed. Elsewhere look for Gold to continue lower in its consolidation while Crude Oil continues lower. The US Dollar Index has a slight upward bias in the sideways price action while US Treasuries are biased to continue higher. The Shanghai Composite remains stuck in a sideways rut while Emerging Markets consolidating at resistance. Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts show a mixed picture though, with the QQQ the strongest and looking for more upside, while the SPY consolidates in the uptrend and the IWM is biased lower in the short run within its consolidation. Use this information as you prepare for the coming week and trad’em well.
Disclosure: 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.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.