Top Trade Ideas: BMRN, CBOE, CNW, PGR, ZTS
Dragonfly Capital | Sep 29, 2014 12:50AM ET
BioMarin Pharmaceutical Inc (NASDAQ:BMRN)
BioMarin Pharmaceutical is completing a ‘W-V’ and looks ready for more upside price action. The RSI is in the bullish zone and rising with a MACD crossed up, as it is about to print a Golden Cross.
CBOE Holdings Inc (NASDAQ:CBOE)
CBOE had a long run higher from mid July, breaking resistance and topping out at 56. Over the last two weeks it is pulled back but Thursday and Friday showed sings of that ending, with long lower shadows on the candlestick. Buyers showing up. The RSI has held at the mid line so far but the MACD is falling still.
Con-way Inc (NYSE:CNW)
Con-Way is testing the falling tend resistance as it bounces off of the 100 day SMA. The RSI is turning back higher and the MACD is leveling. There is a longer scale RSI Positive Reversal in the works that looks for new highs on continuation.
Progressive Corporation (NYSE:PGR)
The 25.50 to 25.65 range for Progressive has been important all year, with but one 2 day venture above it. It is at that resistance zone again with a bullish RSI and a flat MACD as it consolidates. Three taps in the past month and from higher lows has me looking for a break higher.
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Zoetis Inc (NYSE:ZTS)
Zoetis made a strong run higher from a base between 32 and 33 before topping last week. The pullback lasted only 2 days before moving back up. It is close to approaching the prior high and the RSI remains bullish. But the last 4 days could be a bear flag, and the MACD heading lower supports more downside. Up or down, does nto matter, there are two potential trades here.
Disclaimer: 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.
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