Top Trade Ideas - Week Of November 11: ADI, ADSK, CERN, JKS, MYL

Here are the Rest of the Top 10:

Analog Devicecs, Ticker: ADI


Analog Devices, (ADI), completed a ‘W’ last week and has been consolidating. The RSI remains in bullish territory with a MACD that is trending higher. Be mindful that a ‘W’ is often accompanied by a smaller ‘V’, look both ways.

Autodesk, Ticker: ADSK


Autodesk, (ADSK), moved higher Friday in a bullish Marubozu candle up to prior resistance. The RSI is rising and the MACD is pushing higher, both supporting more upside.

Cerner, Ticker: CERN


Cerner, (CERN), had a strong run higher from a September low before pulling back from a top at 59 two weeks ago. Friday it took a step higher breaking that consolidation. The RSI also is pointing higher with a MACD that is slowing its descent and possibly leveling. The Histogram is already showing signs of improvement.

JinkoSolar, Ticker: JKS


JinkoSolar, (JKS), has been trending higher with all the solar names lately. Recently it has been consolidating under resistance and has support from a rising RSI and a MACD that is about to cross positive for more upside.

Mylan, Ticker: MYL

Mylan, (MYL), pulled back to the rising 50 day SMA in its consolidation and bounced. Now moving higher it has support for more upside from a rising RSI and a MACD that has crossed 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 Market Macro picture reviewed Friday which, heading into November options expiration week sees the markets rattled but with a strong come. Look for Gold to continue lower with Crude Oil, although the latter is at a spot that could provide a reversal higher. The US Dollar Index remains strong and looks better higher while US Treasuries are biased to continue lower. The Shanghai Composite and Emerging Markets are biased to the downside with the risk of the Chinese market running in place like last week. Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts show better strength in the SPY followed by the QQQ and then the IWM the weakest, but none in full blown drive higher every day mode. Use this information as you prepare for the coming week and trad’em well.

Disclosure: 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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