Top Trade Ideas For The Week of August 26

Published 08/26/2013, 01:36 AM
Updated 05/14/2017, 06:45 AM

Here are the Rest of the Top 10:

American Tower, Ticker: AMT
AMT

American Tower (AMT) had a long pullback from the bounce to 78.33 in July. Now it has been basing and sports a Relative Strength Index (RSI) that is turning higher and a Moving Average Convergence Divergence indicator (MACD) that has just crossed higher.


ATW


ATW is moving back higher after touching the 50 day Simple Moving Average (SMA) in the continued uptrend. The RSI is bullish and moving back higher with a MACD that is leveling on the signal line and improving on the histogram.

Chicago Bridge & Iron, Ticker: CBI
CBI

Chicago Bridge & Iron (CBI), has been in a long symmetrical triangle since May and is approaching the top again. The rising and bullish RSI and MACD crossed up both support a push higher.

Cigna, Ticker: CI

CI

Cigna (CI) has been consolidating the last move higher since mid July. With an RSI that is starting back higher and a MACD that is about to cross up, the time may be right for a break higher.

Gilead Sciences, Ticker: GILD

GILD
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 Saturday which, heading into the unofficial last week of Summer looks for Gold to continue higher while Crude Oil rises in the consolidation zone. The US Dollar Index seems to have found a bottom and should bounce while US Treasuries are bouncing but biased lower. The Shanghai Composite looks to drift lower and Emerging Markets are biased to the upside in the very short term. Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts see some upside with the QQQ strongest and IWM next and SPY still needing to prove the pullback is over. 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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