Monday’s Top Stocks From TradersWire
Wild Oats (OATS)
shareholders are opening champagne bottles. According to Reuters,
The Yucaipa Companies, led by Ronald Burkle, disclosed that it owns 2.62 million
shares of Wild Oats common stock. OATS gapped up at the open, and closed up more
than 14%.
The Dow Jones Industrial Average lost 13 points and formed a bearish tail. As
you can see, a declining trendline is still intact. The Nasdaq Composite Index
failed to close above the 200-day SMA (simple moving average) again. Notice the
index is trading inside of a declining channel.
Now, four stocks for Monday:
Zimmer Holdings (ZMH): The issue appears to be forming a double bottom.
Long ZMH if it takes out 79.75. Target is the March 18 high (81.61). Risk 75
cents.
Jabil Circuit (JBL): The stock is forming a flag near the March 18 high.
Long JBL if it trades above 28.25. We are looking for 30. Risk 50 cents.
Sara Lee (SLE): The issue is struggling to take out the 20-day EMA after
pulling back from the March 16 low. Short SLE if it moves below 21.69. Target is
21. Risk 25 cents.
Boston Scientific (BSX): This is a potential double bottom situation.
Long BSX if it breaks above a declining trendline (29.50). Target is near 30.66.
Risk 0.35-0.5.
T.Kamada
If you have questions, feel free to
mail them to me.