Friday’s Top Stocks From TradersWire
Amazon.com (AMZN) released
earnings last night, and investors did not like what they saw.
Although the stock staged a late afternoon rally, it lost nearly 15% of its
value on extremely heavy volume. Look at a huge gap. It takes a great effort to
mend this hole.
Diamonds Trust (DIA) finished near the day’s high, but it still could not
take out the 50% retracement level. The Nasdaq-100 Index gapped down at
the open and closed right at the lower boundary of a bear flag.
Now three stocks for Friday:
Monthly job numbers will be announced at 8:30 AM. Analysts are expecting 5.4%
Unemployment Rate, and 200,000 for Nonfarm Payrolls.
Landstar System (LSTR): The issue is pulling back from the January 27 low
and struggling to take out the 20-day EMA (exponential moving average). Short
LSTR if it slips below 34.98. The initial target is 33.20. Risk 0.5-0.75.
Microchip Technology (MCHP): The stock failed to take out the 50%
retracement level and closed poorly. Short MCHP if it moves below a very
short-term trendline (26.20). We are looking for near 25. Risk 0.5.
Comcast Corp (CMCSA): The issue re-crossed above its 50-day MA on strong
volume. Long CMCSA if it can break above a trendline (32.16). Target is 33.45.
Risk 0.5. Â
T.Kamada
Feel free to mail me your
questions.
Â