Top Trade Ideas: BP, CELG, CF, ESRX, RY
Dragonfly Capital | Mar 31, 2014 01:33AM ET
BP (BP.LSE)
BP, completed a pullback last week, establishing another higher low. Crossing the 50 day Simple Moving Average (SMA) Friday, it is on its way again. The Relative Strength Index (RSI) passed through the mid line heading higher as the MACD is crossing up. Both support more upside.
Celgene Corporation (NASDAQ:CELG)
Celgene, looks like a hot mess. It continues to move lower with a RSI hugging the 30 level, MACD running lower and the Bollinger bands opening down. With short interest at only 1% it could be exhibiting a rounded topping pattern on its way much lower.
CF Industries Holdings Inc (NYSE:CF)
CF Industries, established a base between 250 and 255 after pulling back from the peak over 265. Friday it started out of consolidation higher. The RSI has held over the mid line and the MACD is turning back higher.
Express Scripts Holding Company (NASDAQ:ESRX)
Express Scripts, is a potential bottoming and reversal play with the Spinning Top candle on Friday. The RSI looks as though it is turning but the MACD is not committed to the upside yet.
Royal Bank Of Canada (RY.TO)
Royal Bank of Canada, is at resistance at 66 and holding up well. The RSI is slowing its move higher but bullish and the MACD has crossed up, both supporting more upside.
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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