Top Trade Ideas For The Week Of October 29, 2012
Dragonfly Capital | Oct 29, 2012 01:30AM ET
Here are the Rest of the Top 10: CNOOC Limited, Ticker: CEO
CNOOC Limited, (CEO), is approaching resistance at 210 for the fourth time since March. It has a bullish Relative Strength Index (RSI) and a flat Moving Average Convergence Divergence indicator (MACD) to support a breakout higher. On a move over resistance it has a Measured Move higher to 225 and the 3-box reversal Point and Figure chart (PnF) has a price objective at 266, well above. EZcorp, Ticker: EZPW
EZcorp, (EZPW), is coming off of a bottom at 18.50. It has a MACD that has just crossed to positive and a RSI that is trending higher. Both support further upside. If it can overcome the doji from Friday it should continue higher. M&T Bank, Ticker: MTB
M&T Bank, (MTB), is consolidating in a bull flag after breaking higher. The volume structure and RSI falling back from being technically overbought, re-enforcing the flag make it attractive. A break over the top has a Measured move to 109.50 and the PnF has a price objective even higher at 132.
Nuance Communications, Ticker: NUAN
Nuance Communications, (NUAN), is consolidating after a move lower. The RSI is looking as if it may bounce suggesting a reversal with a MACD that is improving. A break of the consolidation higher can move towards the PnF price objective of 36. But a breakdown out of consolidation carries a Measured Move to 20.40. 
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Spreadtrum Communications, Ticker: SPRD
Spreadtrum Communications, (SPRD), broke above resistance at 22 and is moving higher. The rising RSI and positive and increasing MACD support a continued move higher with the PnF price objective at 28.50. This name also has elevated short interest at about 9% that could help it higher.
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 Original post
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