Friday’s Top Stocks From TradersWire
Crude oil briefly traded
above $55 before pulling back down to close at $53.57. According to
Dow Jones Newswires, OPEC Secretary-General said the possibility of $80 a barrel
over the next two years. Look at the daily chart of the Oil Index below. This is
a great example of a strong uptrend.
The Dow Jones Industrial Average gained 21 points, but the resistance line is
still intact. The Nasdaq Composite Index lost 0.44% of its value and finished
just above the lower boundary of a flag.
Now, three stocks for Friday:
The employment numbers will be released at 8:30 AM.
Nonfarm Payrolls: Consensus 225,000
Unemployment Rate: Consensus 5.2%
Cogent Inc (COGT): The issue is pulling back from the February 28 low on
decreasing volume. Notice it is struggling to take out the 38.2% retracement
level. Short COGT if it slips below 26.06. Target is 23. Risk 0.5-0.75.
Watson Pharmaceuticals (WPI): The stock appears ready to move out of a
pullback. Long WPI if it take out 31.38. Target is the February 25 high (32.35).
Risk 35 cents.
Iron Mountain (IRM): The issue is trying to take out a resistance line on
its 60-minute chart. Long IRM if it trades above 30.82. Target is 32. Risk 50
cents.
T.Kamada
If you have questions, feel free to
mail them to me.
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