Top Trade Ideas: Week Of April 1, 2013 - The Rest

Here are the Rest of the Top 10:

Aetna, Ticker: AET


Aetna, AET, is moving higher to resistance after a brief pullback. it has support for further upside price action from a rising and bullish Relative Strength Index (RSI) and a Moving Average Convergence Divergence indicator (MACD) that is leveling for a move back up after pulling back.

Atmel, Ticker: ATML


Atmel, ATML, is attempting to break out of a Diamond higher. It has support for more upside from a rising and bullish RSI, and the flat MACD does not hurt. The Measured Move higher would take it to 9.00.

Cemex, Ticker: CX


Cemex, CX, has been a long time favorite and is giving a chance at an entry. A break of the bull flag consolidation has a Measured move higher to 14.50. The bullish RSI support a move higher, and the MACD has pulled back as it is approaching the 20 day Simple Moving Average (SMA).

Onyx Pharmaceuticals, Ticker: ONXX


Onyx Pharmaceuticals, ONXX, has been moving sideways in a channel between 70 and 92 for the last 8 months. A break of the channel higher carries a Measured Move to 114.00-114.50. The RSI is bullish and rising, and the MACD is turning back higher, supporting more upside price action.

Rockwood Holdings, Ticker: ROC

Rockwood Holdings, ROC, is consolidating in a bull flag at the Potential Reversal Zone (PRZ) of the bearish Butterfly. A break out higher has a Measured Move to 71 and suggests the Butterfly failed. A move under 64 triggers the Butterfly retracement target at 55.79 at least. The RSI is bullish, supporting further upside. The MACD is moving lower suggesting a possible pullback or further consolidation.

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 new Quarter look for Gold to consolidate or pullback in its neutral channel. Crude Oil continues to March higher. The US Dollar Index seems content to move sideways, while U.S. Treasuries consolidate and are biased lower. The Shanghai Composite looks sick, while Emerging Markets are biased to the upside in the short run at support. Volatility looks to remain subdued, keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, despite recently created new highs. The QQQ looks the best on a longer scale, while the SPY is better very short term. Use this information as you prepare for the coming week and trad’em well.

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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