Monday’s Top Stocks From TradersWire
The Dow Jones Industrial
Average decisively broke down below its 200-day EMA on heavy volume
and recorded the fifth consecutive losing session. The Nasdaq Composite Index
managed to stay above the 2050 level. It does not look promising, but the
trading range is still intact.
In spite of Thursday’s weak bar, Google (GOOG) gained 7.54 points and
finished less than three dollars away from 300. I thought the stock was ready to
go down. Let’s watch the 300 level carefully.
Now three stocks for Monday:
Netflix (NFLX): The issue shaped a bullish long tail just above the
rising 50-day EMA. Long NFLX if it takes out 16.10. Target is the June 16 high
(17.84). Risk 50-70 cents.
SPX Corp (SPW): The stock broke down below a rising trendline. Short SPW
if it slips below 44.60. Target is the June 14 low (43.60). Risk 40-50 cents.
Hilton Hotels (HLT): The issue closed just above a support level. As you
can see, the stochastic is in the oversold zone, and we are looking for a
recovery rally. Target is 25, but 24.50 can be a strong resistance. A buy stop
can be placed at 23.91. Risk 50-75 cents.
If you have questions, feel free to
mail them to me.