Thursday’s Top Stocks From TradersWire
Goldman Sachs (GS)
followed through to the upside, but the declining 20-day EMA was too
tough to overcome.
Innovo Group (INNO) gapped up at the open, but it formed a mildly bearish
bar. We took a partial profit and adjusted our stop higher.
The Dow Jones Industrial Average closed near the day’s high, but it failed to
take out the resistance line. The Nasdaq Composite Index gained 19 points and
finished only 13 points away from the 2100 level.
Now three stocks for Thursday:
NeighborCare (NCRX): The issue is forming a bull flag. Buy NCRX if it
takes out 30.45. The initial target is 31.25. Risk 35-40 cents.
Nokia (NOK): The stock is attempting to break above a very short-term
trendline. Long NOK if it trades above 17.20. The initial target is 17.70. Risk
0.25.
Broadcom Corp (BRCM): The stock is pulling back from the May 26 high.
Long BRCM if it moves above 35.85. The initial target is 36.71. Risk 40 cents.
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questions.
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