Monday’s Top Stocks From TradersWire
It’s Friday. Let’s look
at two weekly charts. The Dow Jones Industrial Average failed to take
out the 38.2% retracement level and closed near the week’s low. It appears the
index wants to retest the 10000 level.
On the other hand, the Nasdaq Composite Index gained 9.45 points for the week
and finished just below a declining trendline.
United Therapeutics (UTHR) could not follow through to the upside. Our
long position was stopped out.
AstraZeneca (AZN) did not hit
our intended buy price, but it closed at the day’s high. Our new buy stop price
is 42.86.
Now three stocks for Monday:
Novartis AG (NVS) is
testing its 50-day EMA after pulling back from the May 4 high. Long NVS if it
trades above 48.62. Target is near 50. Risk 0.5-0.75.
Washington Mutual (WM) is pulling back to its 200-day EMA from the May 4
high. Long WM if it takes out 41.43. We are looking for 43. Risk 50-75 cents.
Clorox (CLX) failed to break above its 200-day EMA and formed a narrow
range bar. Short CLX if it slips below 57.40. Target is near 56. Risk 0.5-0.75.
Feel free to mail me your
questions.Â