Top Stocks For This Week Of January 20, 2015
Dragonfly Capital | Jan 19, 2015 12:13AM ET
Here are the Rest of the Top 10:h3 Allstate, (NYSE:ALL)/h3
Allstate, has been consolidating in an ascending triangle since mid December. It has exhibited relative strength while the broader market has pulled back. The RSI has held over the mid line, and bullish while the MACD is trying to turn up, which could trigger a buy signal.
h3 Ashland, (NYSE:ASH)/h3Ashland, is also moving in an ascending triangle and showing relative strength. Its RSI is in the bullish zone and rising while the MACD is falling. Look for a move out of the triangle as an entry.
h3 Anheuser-Busch InBev, (NYSE:BUD)/h3Anheuser-Busch InBev, is moving back to resistance in a ‘W’ like move or two ‘V’s if you like. A move over the top gives it free air above. The momentum indicators are signaling positive. The RSI is bullish and rising while the MACD crossed up last week and is rising.
h3 Express Scripts, (NASDAQ:ESRX)/h3Express Scripts, has an ascending triangle in its chart as well. Following a large move higher from mid October this consolidation is welcome. The RSI is in the bullish zone and the MACD trying to move up for a cross. Watch for a price move over the resistance zone and MACD cross to enter long.
h3 Northrop Grumman, Ticker: (NYSE:NOC)/h3
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Northrop Grumman, rose from the October low and is consolidating under resistance now. The RSI is bullish and strong while the MACD is flat as it hits the trigger line. A break higher triggers a long entry and continuation.
Elsewhere look for gold to continue its uptrend while Crude Oil consolidates in a downtrend. The US dollar looks to continue higher along with US Treasuries. The Shanghai Composite looks to resume its move higher despite being very overbought while Emerging Markets continue to consolidate in a bear flag in the downtrend.
Volatility looks to remain low but creeping higher making a headwind for the equity index ETF’s (ARCA:SPY), (ARCA:IWM) and (NASDAQ:QQQ). Their charts show differing reactions with the IWM consolidating in the top of its year long range, and the SPY trying to reverse a pullback, while the QQQ looks biased lower in the short run. Longer term the SPY and QQQ remain in uptrends while the IWM consolidates. Use this information as you prepare for this coming week and trad’em well.
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