Top Trade Ideas - Week Of December 9: Amazon, Domino's And More

Here are the Rest of the Top 10:

Agrium, Ticker: AGU


 
Agrium, (AGU), is coming out of a long rounded bottom that took most of 2013. Last week it moved over the 200 day Simple Moving Average (SMA) for the first time since March. The shorter 50 and 100 day SMA’s are starting to turn higher and join the rising 20 day SMA. As it moves up, the RSI is bullish, although currently pulling back, and the MACD is level after a move up. Both would allow for more upside.

Amazon.com, Ticker: AMZN

Amazon.com, (AMZN), has been moving higher since July, making a series of higher highs and higher lows. After touching 399 a week ago it has pulled back to the 380 area and consolidated. Friday saw signs of a possible move higher. The RSI is bullish and has worked off the technically overbought condition while the MACD remains pointing lower.

Cullen/Frost Bankers, Ticker: CFR


Cullen/Frost Bankers, (CFR), is testing resistance that has been in place since July, outside of the 3 day test and fail higher in August. At the current level it has made a series of higher lows and higher highs making it attractive as a breakout candidate. The RSI is rising and bullish and the MACD is crossed up and moving higher.

Computer Sciences, Ticker: CSC


Computer Sciences, (CSC), has been on the radar in the recent past looks very good now. Having made a higher low and moved out of the consolidation box a bit it has support for more upside from the rising and bullish RSI and MACD turning back higher.

Domino’s Pizza, Ticker: DPZ

Domino’s Pizza, (DPZ), is approaching resistance as well, with a push higher from the 50 day SMA. The RSI is bullish and the MACD is level but approaching a cross higher. Broadly this range has held since early October and has been tightening.

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 Market Macro picture reviewed Friday which, heading into the next week, sees the equity markets look positive but extended on the longer timeframes. Look for Gold to continue lower or consolidate while Crude Oil remains biased higher. The US Dollar Index looks to resume the downward path along with US Treasuries, especially if they break support are biased lower. The Shanghai Composite looks strong while Emerging Markets carry a neutral bias for the week. Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, with a move lower looking for new all-time highs in the indexes again. The index ETF’s remain biased higher but with caution. The QQQ is the most extended on the weekly time frame with the SPY next and the IWM the least worrisome. Use this information as you prepare for the coming week and trad’em well.

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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