Friday’s Top Stocks From TradersWire
The gap zone could not
stop Martha Stewart Living Omnimedia, Inc. (MSO). It broke down and
recorded five consecutive losing sessions. But, Brice, Editor-in-Chief tells me
that something has halted MSO’s decline. Look at the daily chart below. Indeed,
MSO is testing a slightly rising support line. We may see a minor recovery rally
soon.
The Dow Jones Industrial Average is attempting to rally out of a pullback from
the March 7 high. In spite of Wednesday’s bearish bar, the index did not follow
through to the downside. The Nasdaq Composite Index lost three straight days,
but it shaped a bullish tail just below the 50-day SMA (simple moving average).
Now, three stocks for Friday:
Sepracor Inc (SEPR): The issue staged a recovery rally and formed a bullish tail
at the 50-day SMA. Long SEPR if it trades above 60.12. We are looking for 62.
Risk 50-75 cents.
Univision (UVN): The stock tested the 61.8% retracement level and closed near
the day’s high. Long UVN if it takes out 28.15. Target is the 200-day SMA (near
30). Risk 50 cents.
Sina Corp (SINA): The issue shaped a mildly bullish tail just above a rising
trendline. Long SINA if it moves above 31.55. Target is the March 3 high
(34.25). Risk 0.5-0.75.
T.Kamada
If you have questions, feel free to
mail them to me.