Friday’s Top Stocks From TradersWire
United Parcel Service
(UPS) lost 1.97% of its value and closed at 74.01. Look at the weekly
chart below. Although the issue violated a trendline briefly, UPS managed
to finish right at the line. Still one more day to finish the week, but we may
be able to buy the stock soon.
Diamonds Trust (DIA) is struggling to break out of a declining channel,
and the Nasdaq-100 Index is forming a bear flag.
Now, three stocks for Friday:
Fourth quarter GDP will be announced before the opening bell. Analysts
are expecting +3.5%.
Viacom Inc Class B (VIA.B): The issue is pulling back from the January 19
high and testing the 38.2% retracement level. Long VIA.B if it takes out 37.54.
Target is near 39. Risk 0.5-0.75.
Wellpoint Health Networks (WLP): The stock bounced off its 20-day EMA and
closed near the day’s high. Long WLP if it trades above 120.13. We are looking
for the January 20 high (124.95). Risk 0.75-1.00.
Abercrombie and Fitch (ANF): The issue is attempting to rally out of a
pullback from the January 19 high. Long ANF if it moves above 50.20. The initial
target is 51.20. Risk 0.5.
If you have questions, feel free to mail them to me.