Friday’s Top Stocks From TradersWire
I thought Diamonds Trust
(DIA) would go down and test the 50-day SMA (simple moving average).
It formed a bearish engulfing bar Wednesday, but it refused to follow through to
the downside. Although the issue closed near the day’s high, volume was light.
Sellers could not keep the Nasdaq-100 Index below 1500. The index
finished below the flag, but it managed to form a mildly bullish tail.
Now, three stocks for Friday:
Elan Corp (ELN): The issue shaped a hammer just above the lower boundary
of a trading range. Long ELN if it trades above 26.60. Target is the February 8
high (28.61), but watch out for the 50-day MA (27.07). Risk 0.5-0.75.
Stryker Corp (SYK): The stock has tested a gap zone, and it looks ready
to resume the uptrend. Long SYK if it takes out 50.47. Target is near 52.50.
Risk 0.5-0.75.
Cablevision Systems (CVC): The issue is nearing its support level. Long
CVC if it moves above 26.69. Target is 28. Risk 0.5.
T.Kamada
If you have questions, feel free to
mail them to me.
Â
Â
Â