Thursday’s Top Stocks From TradersWire
The Dow Jones Industrial
Average bounced off the 50% retracement level and crossed above the
50-day SMA (simple moving average) on decreased volume. Look at the 15-minute
chart below. You can observe the average is forming a resistance level at 10700.
Although the Nasdaq Composite Index opened higher, it failed to sustain
the momentum. The index closed near the January 28 low. Volume was less than its
daily average.
Now, three stocks for Thursday:
Mobile TeleSystems (MBT): The issue tested the 38.2% retracement level
successfully and formed a bullish bar. Long MBT if it trades above 36.78. Target
is near 38. Risk 0.5.
Avid Technology (AVID): The stock looks ready to move out of a pullback
from the February 18 high. Long AVID if it takes out 65. Target is 67. Risk
05-0.75.
Travelzoo Inc (TZOO): The issue is struggling to break above the upper
boundary of a gap zone. Short TZOO if it slips below 66.58. The initial target
is 63. Risk 0.75.
T.Kamada
If you have questions, feel free to
mail them to me.
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