Monday’s Top Stocks From TradersWire
Look at this wide range
bar on the weekly chart of the Dow Jones Industrial Average. The
index decisively broke down below the 50 and 61.8% retracement levels. You can
observe a similar situation with the Nasdaq Composite Index.
MBIA Inc (MBI) hit our short selling price and closed near the day’s low.
We covered half to lock in a 50-cent gain (initial risk amount) and moved our
stop to breakeven.
Now, four stocks for Monday:
Autodesk Inc (ADSK): The issue bounced off the 50% retracement level and
finished at Thursday’s closing price. Long ADSK if it takes out 32.14. We are
looking for 34. Risk 50-75 cents.
Celgene Corp (CELG): The stock looks ready to resume its uptrend. It
successfully tested the support level and closed near the day’s high. Long CELG
if it moves above 37.16. Target is 38.50. Risk 50 cents.
Intuit Inc (INTU): The stock staged a strong recovery rally and
re-crossed above the 200-day MA. Long INTU if it takes out 42.79. Target is 44.
Risk 0.5.Â
Community Health (CYH): The issue gapped down at the open, but it nicely
reversed to the upside. Long CYH if it trades above 35.45. The initial target is
36. Risk 25 cents.
If you have questions, feel free to
mail them to me.