Tuesday’s Top Stocks From TradersWire
Nasdaq-100 Index lost 0.29% of its
value and recorded four consecutive down sessions. It finished
slightly below the 20-day EMA (exponential moving average). Is it only a
pullback, or is it the beginning of a downtrend? So far, the index is holding
above a support line. Although the Diamonds Trust (DIA) formed a mildly
bearish tail, it managed to close above a support line as well.
Semiconductor sector is testing an important price level. As you can see below,
SMH (Semiconductor HOLDRs) is nearing the lower boundary of a channel. If
the issue cannot hold above this level, it will negatively affect the NASDAQ
market. Â
Let’s see four stocks for Tuesday:
Affiliated Computer (ACS): The stock tested the 38.2% Fibonacci level
successfully and closed near the day’s high. Long ACS if it trades above 57.95.
Target is near 60. Risk one point.
Univision (UVN): The issue failed to take out the 50-day EMA and finished
near the day’s low. Short UVN if it slips below 29.90. The initial target is
28.55. Place a protective stop just above the 50-day EMA (30.10)
Digital River (DRIV): Although the stock formed a bearish tail, it
managed to close above a support line. Long DRIV if it trades above 40.50. Risk
0.5-0.75. Target is near 43.
TLC Vision (TLCV): The issue is forming a trading range just above a
support line. Long TLCV if it moves above 10.60. The initial target is 11.30.
Risk 0.25-0.35.
If you have questions, feel free to mail them to me.
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