Top Trade Ideas - Week Of November 25: BMY, CBST, COP, NFLX, PG

Here are the Rest of the Top 10. I can’t recall another time when this list had a combined market cap over $400 billion without having Exxon Mobil Corporation, (XOM) or Apple Inc, (AAPL) on it:

Bristol-Myers Squibb, Ticker: BMY

Bristol-Myers Squibb, (BMY), has been consolidating between 51.50 and 53.50 since late October, and is pressing against resistance. The Relative Strength Index (RSI) is rising again and making a higher high with a MACD that is starting to turn back higher.

Cubist Pharmaceuticals, Ticker: CBST

Cubist Pharmaceuticals, (CBST), has been consolidating between 60 and 67 since late July. Moving higher after a touch at the 100 day Simple Moving Average (SMA), it has support for upside from a rising RSI and MACD.

ConocoPhillips, Ticker: COP

ConocoPhillips, (COP), has been consolidating between 72 and 74.25 since mid October. It also has support for a move higher from a RSI that is rising and making a higher high and a MACD that is turning back up.

Netflix, Ticker: NFLX

Netflix, (NFLX), is building pressure towards a break higher over resistance as the 20 and 50 day SMA’s push sit higher. The RSI is running sideways in bullish territory with a MACD that is slowly creeping higher.

Procter & Gamble, Ticker: PG

Procter & Gamble, (PG), is consolidating the move higher as it sits under 85. The RSI is and MACD are bullish and support a move higher, but can also support a short term pullback to support from the last base at 82.50 to 83.

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 shortened Holiday week, sees the markets looking healthy. In the coming week look for Gold to continue lower while Crude Oil consolidates and may reverse higher. The US Dollar Index remains biased to the upside while US Treasuries are biased lower. The Shanghai Composite and Emerging Markets are biased to the upside with risk of Emerging Markets running in place. Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. All continue to look better to the upside but the IWM looks the strongest of the Index ETF’s with the SPY and QQQ raising some caution flags on the weekly charts. 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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