Friday’s Top Stocks From TradingMarkets
Applied Materials (AMAT)
staged a drastic recovery and managed to close near the day’s high in
spite of a shortfall in the current quarter’s orders. Definitely, market
participants are ignoring bad news.
Diamonds Trust (DIA) moved in a narrow range, but added 10 cents to its
value. Nasdaq-100 Index Tracking Stock (QQQ) extended its gain and closed
at a new 52-week high.
Let’s look at three stocks for Friday:
As I mentioned above, Applied Materials shook off the bad news. This is a
bullish sign. Currently, the stock is nearing the top of a trading range. A buy
signal is generated if AMAT trades above 18. Watch the 200-day MA (near 18.45).
It can be a resistance.
Acxiom (ACXM): The stock is consolidating just above the rising 20-day
EMA. Long ACXM if it takes out 26.50. Target is 27.80-28.00. Place a protective
stop just below 26.
Express Scripts (ESRX): The issue is in a pullback, and it is testing the
8-day EMA. Long ESRX if it trades above 74.53. Target is the November 12 high
(76.39). Place a stop just below today’s low (73.55).
Laboratory Corp (LH): The stock is forming a trading range above the
20-day EMA. We are looking for a breakout. Long LH if it moves above 47.50.
Target is near 50. Risk 1 point, or place a stop just below today’s low (46.42)
Good night!
If you have questions, feel free to mail them to me.
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