Monday’s Top Stocks From TradersWire
It was just too many
barriers to overcome for Microsoft (MSFT). As indicated by volume,
there were not enough buyers to destroy those obstacles. The stock formed a
mildly bearish tail and finished near the day’s low.
(Charts courtesy of QCharts)
Ace Ltd (ACE) finally broke down. It failed to move above its 200-day EMA
and closed poorly on increased volume.
The Dow Jones Industrial Average could not record five consecutive winning
sessions. It did not even touch the April 1 high and ended the day just above
the 200-day EMA. The Nasdaq Composite Index failed to follow through to the
upside in spite of Thursday’s bullish bar. It slipped below its 200-day EMA.
Now, three stock for Monday:
Biomet (BMET): The stock hit the 20-day EMA and reversed to the downside.
Short BMET if it trades below 37.15. The initial target is 36. Risk 0.35-0.5.
Kerr McGee (KMG): The issue is testing the upper boundary of a gap zone
after pulling back from the April 4 high. Long KMG if it takes out 76.01. We are
looking for 77.50. Risk 0.5-0.75.
Citigroup (C): The stock could not break above the 38.2% retracement
level and closed near the worst level of the day. Short C if it moves below
45.35. Target is 44.35. Risk 35 cents.
T.Kamada
If you have questions, feel free to
mail them to me.