Top Trade Ideas: CGNX, HON, IBM, OSK, V
Dragonfly Capital | Sep 22, 2014 12:59AM ET
Cognex Corporation (NASDAQ:CGNX)
Cognex Corporation (NASDAQ:CGNX) has been moving higher since mid-April, along the 50 day SMA. The price action since August has been a symmetrical triangle and it nearly tested both sides of it Friday. With a MACD crossing up and a RSI in the bullish zone favor an upside breakout.
Honeywell International Inc (NYSE:HON)
Honeywell has been moving in a mainly sideways fashion since February. But the latest bounce off of the 200 day SMA in August had a brief pullback before heading higher again, with a Measured Move on an AB=CD pattern to 100. The rising and bullish RSI and the MACD crossed up and rising support continued upward price action.
International Business Machines (NYSE:IBM)
IBM is testing resistance at the falling trend line. The price action here also had a run up form the 200 day SMA and pulled back before moving higher. The AB=CD target on this stock takes it to 200. The RSI and MACD are bullish and rising to support this move higher.
Oshkosh Corporation (NYSE:OSK)
Oshkosh got crushed in late July finding support at 45.25, where it had previous support in November 2013. Currently it is moving higher after making a higher low and the RSI is rising with the MACD leveling. These support continued upside, but watch the falling trend resistance a few bucks higher.
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Visa Inc (NYSE:V)
Visa has been moving in a long symmetrical triangle since topping in February. Most of the price action has been in the lower half of the triangle but it is now drifting higher as it nears the apex. The RSI and MACD have been moving sideways as this consolidation has been ongoing for such a long time.
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