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You are here: Home / Recent / Stock of the Week: Buying the Selling in Popular Inc.

Stock of the Week: Buying the Selling in Popular Inc.

April 1, 2012 by David Penn

Strength in regional banks has provided traders and active investors alike with the

opportunity to trade to the long side or invest in what previously were some of the most beaten-down stocks in the

market.

For traders using PowerRatings to help find the best stocks to trade every day, a ratings

upgrade in Popular Inc. (NASDAQ: BPOP) signalled a potential opportunity in one of the less

known regional banks, but one that had begun to move toward levels were traders,

historically, have been more inclined to buy than sell.

Popular Inc., had traded lower for three days in a row when intraday weakness allowed

traders and active investors to take a position in the stock on the fourth day, as it traded

below the previous session’s close. The day of the fill, a Friday, the market for BPOP

traded significantly lower, again allowing traders plenty of room to take positions with limit

orders as high as four and a half percent (to learn more about trading stocks using intraday

weakness, click here.)

BPOP chart

In this case, a moderate-to-aggressive limit order of 3% would have allowed traders to take a

position in BPOP near the stock’s lowest price on the day. And just one day later, shares of

Popular Inc. were rallying into strength and closing above the 5-day moving average.

Depending on the intraday entry strategy used, traders were able to lock in gains of 5% or

more in the stock.

Honorable mention for this week’s Stock of the Week goes to Valero Energy Corporation

(NYSE: VLO). Like BPOP, the trade in VLO was relatively quick, lasting only a few days.

Shares of Valero Energy pulled back in late March, earning “consider buying” ratings of 8 out

of 10, and then 9 out of 10 as the stock pulled back into technically oversold territory.

Intraday weakness allowed traders to get long VLO on March 23, and the stock was rallying

into strength only two days later after a gain of more than two and a half percent.

To learn more about trading stocks with intraday entry strategies, click here.

And to start trading stocks using PowerRatings, click the link below to start your

free, 14-day, no-obligation trial.

Scan Just

One Number Tonight … to Find Stocks on the Move Tomorrow.

Filed Under: Recent, Trading Lessons Tagged With: PowerRatings, Stock of the Week

Buy The Fear, Sell The Greed

Buy The Fear, Sell The Greed

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