Top Trade Ideas - Week Of October 14: Allstate, ConAgra And More

Here are the Rest of the Top 10:

Ambev, Ticker: ABV


Ambev, (ABV), rose from a double bottom at 33.50 and is now consolidating in a bullish flag. The Relative Strength Index (RSI) is bullish and rising after only pulling back to the mid line and the MACD is level after a pullback. A turn higher will have it support more upside like the RSI.

Allstate, Ticker: ALL


Allstate, (ALL), is approaching prior resistance at 53 after a shallow pullback. The RSI and MACD are both supportive of a push higher.

Altera, Ticker: ALTR

Altera, (ALTR), started a rise out of a bull flag at the end of the week. The RSI has also turned higher as well as the MACD, which looks ready to cross in a day or so. Anadarko Petroleum,

Ticker: APC


Anadarko Petroleum, (APC), has been in a steady trend higher and is now approaching resistance from mid September. The RSI is making a higher high and the MACD turning higher. These support more upward price action.

ConAgra Foods, Ticker: CAG

ConAgra Foods, (CAG), is coming off of a bottom at 30 with support for more upside from a rising RSI and MACD with the Simple Moving Averages (SMA) all well overhead.

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, moving into the October Options Expiration week, looks for Gold and Crude Oil to continue to move lower. The US Dollar Index looks to continue higher in the down trend while US Treasuries consolidate but are biased lower. The Shanghai Composite and Emerging Markets are both biased to the upside in the short term. Volatility looks to remain low and falling again keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts also look higher with the IWM and QQQ near their highs but the SPY needing a little more to get there. 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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