Thursday’s Top Stocks From TradersWire
As expected, the Federal
Reserve raised its Fed fund rate by a quarter of a percentage point.
Diamonds Trust (DIA) gained three consecutive sessions on light volume
and closed just below the 50% retracemnet level. The Nasdaq-100 Index is
struggling to break above the 20-day EMA (exponential moving average) and the
gap zone.
Now, four stocks for Thursday:
Cablevision Systems (CVC): The issue broke out of a flag and closed near
the day’s high. Long CVC if it trades above 28. We are looking for the January
24 high (29.25). Risk 0.5.
American Pharmaceutical Partners (APPX): The stock is nearing its minor
resistance level after testing the January 11 low successfully. Long APPX if it
moves above 50. The initial target is 51.50. Risk 0.5-0.75.
Novellus Systems (NVLS): The issue is facing the upper boundary of a
declining channel to overcome. Short NVLS if it slips below 26. The initial
target is 25. Risk 0.5.
Apollo Group (APOL): The stock failed to take out the 20-day MA again and
closed poorly. Short APOL if it trades below 78. The initial target is 77. Risk
0.5.
T.Kamada
If you have questions, feel free to
mail them to me.
Â