Friday’s Top Stocks From TradersWire
eBay Inc (EBAY)
lost more than 4% of its value on extremely heavy volume. This is not
a normal profit taking action. Clearly, investors are fighting to get rid of
their shares. Look at the MACD histogram below. It is showing a negative
divergence. How much more can EBAY fall? The 261.8% projection level is 103.22,
but investors may wait for a nice round number 100. EBAY finished today at
106.18.
Although it was not a decisive breakdown, Nasdaq-100 Index closed
slightly below the 161.8% projection level. Needless to say, EBAY helped
to push the index down. Diamonds Trust (DIA) managed to gain 0.31%, but
the closing price was below the opening price. It was not a bullish ending.
Tomorrow morning at 8:30, employment data for December will be released. I
don’t know how the market will react to the numbers, but let’s see three stocks
for Friday.
Marshall & Ilsley (MI): The issue is in a pullback from the December 29
high. We are looking for a resumption of the uptrend. Long MI if it takes out
43.79. Target is near 45. Risk 0.5.
CYTYC Corp (CYTC): The stock formed a bullish tail on Wednesday just
above its 200-day SMA. We are looking to long CYTC if it trades above 25.53. The
initial target is 26.60. Risk 0.5.
Shuffle Master (SHFL): The issue is trying to rally out of a pullback
from the December 30 high. Long SHFL if it moves above 45.53. Target is near 48.
Risk 0.75-1.00.
If you have questions, feel free to mail them to me.