Thursday’s Top Stocks From TradersWire
This stock, Giga-tronics
(GIGA), trades about 76,000 shares a day. Nobody would consider
daytrading it, but this morning’s news was powerful enough to attract many
daytraders. According to Business Wire, the company made a multi-year
deal with The Boeing Company (BA) to produce fast-tune synthesized filter
systems for the F/A-18 E/F aircraft. GIGA closed at 6.19, up 93% on super heavy
volume.
Obviously, the market was not nearly as
attractive as Giga-tronics. The Nasdaq Composite Index failed to close above the
200-day SMA and formed a mildly bearish tail. The Dow Jones Industrial Average
lost 14 points on heavier than normal volume.
Now, three stocks for Thursday:
International Securities Exchange (ISE): The stock began to trade only
two weeks ago as you can see below. It tested its short-term trendline
successfully and closed near the day’s high. Long ISE if it takes out 27.25.
Target is 28.70. Risk 0.35-0.5.
Caterpillar Inc (CAT): The issue finished at the confluence of the 50%
retracement level, 50-day SMA, and rising trendline. Long CAT if it trades above
95. We are looking for 98. Risk 0.75-1.00.
RR Donnelley (RRD): The stock is pulling back to the 38.2% retracement
level from the March 17 low. Short RRD if it slips below 30.75. Target is 30.
Risk 25 cents.Â
T.Kamada
If you have questions, feel free to
mail them to me.
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