Friday’s Top Stocks From TradersWire
Microsoft (MSFT) is
pulling back to the confluence of the 50-day EMA, horizontal
resistance line, and declining long-term trendline. The stock has been advancing
four straight days, and notice the 14-period stochastic is approaching the
overbought zone.
The Nasdaq Composite Index, in spite of Wednesday’s bearish bar, broke above the
200-day EMA. The Dow Jones Industrial Average recorded four consecutive winning
sessions and closed just below the April 1 high. Volume exceeded Wednesday’s
level.
Cyberonics (CYBX) easily took out our target price on strong volume and
finished at a new high. I bet some traders are placing buy orders slightly above
45.95.
Now, three stocks for Friday:
McKesson (MCK): The stock is forming a narrow range just above its
support level. This is a potential breakout situation. Long MCK if it takes out
39.42. Target is 41. Risk 50 cents.
MBIA Inc (MBI): The issue failed to close above the 20-day EMA and
finished near the day’s low. Short MBI if it slips below 54.49. Target is near
50. Risk 75 cents.
Mercury Interactive (MERQ): The stock successfully tested the lower
boundary of a range. Long MERQ if it trades above 46. Target is 48. Risk 50-75
cents.
T.Kamada
Feel free to mail me your
questions.