Here are the Rest of the Top 10:
DaVita HealthCare Partners Inc (NYSE:DVA)
DaVita Healthcare Partners, $DVA, started moving lower in June 2015. After a couple of bumps it started a steady decline in November that found a bottom in February. Since then it has moved higher, making a higher high and consolidating near that prior top. With the RSI bullish and rising and the MACD rising, look to participate in more upside on a break over resistance.
Home Depot (NYSE:HD)
Home Depot, $HD, was on a steady ride higher until the beginning of 2016. The initial pullback saw a bounce and then a push lower to a lower low, before a second bounce. Now back at resistance, and making a higher high Friday, it looks ready for more upside. The RSI is back in the bullish zone and the MACD rising. Look for continuation Monday to participate in the upside.
Krispy Kreme Doughnuts Inc (NYSE:KKD)
Krispy Kreme Doughnuts, $KKD, had a great reaction to earnings in June 2015, but then started a nearly immediate downtrend. It hit a bottom in November and bounced only to fall back, making a double bottom in February. Now it is back to resistance and pushing higher. The RSI is rising and bullish with the MACD rising. Both support more upside and look for continued movement over resistance to participate to the upside.
Northern Trust (NASDAQ:NTRS)
Northern Trust, $NTRS, got hit along with the market in August and consolidated for 2 months before starting a recovery. It made it most of the way back to the prior high but then turned lower again in January. That move found support mid February, and the stock has been rising since. The movement Friday started another leg out of a bull flag, and has support for more upside from a rising RSI and MACD, both in the bullish range. Look for continuation to participate to the upside.
PacWest Bancorp (NASDAQ:PACW)
PacWest Bancorp, $PACW, started moving lower in December. It found some support in January and bounced only to start lower again to another bottom in February. The reversal higher moved to the prior top before a slight retrenchment and the move to a higher high Friday. The Bollinger Bands® are opening to the upside and the RSI is bullish and rising along with the MACD. Look for continuation to participate in a move 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 March Options Expiration sees the Equity markets looking strong and ready for more upside.
Elsewhere look for gold to consolidate in its uptrend while crude oil continues higher. The US Dollar Index looks better to the downside short term in consolidation while US Treasuries are biased lower. The Shanghai Composite is consolidating in a broad range while Emerging Markets are biased to the upside.
Volatility looks to remain subdued and falling back to normal levels putting a breeze at the back of the equity index ETF’s SPDR S&P 500 (NYSE:SPY), iShares Russell 2000 (NYSE:IWM) and PowerShares QQQ Trust Series 1 (NASDAQ:QQQ). Their charts all look good for more upside as well on both timeframes. 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.