Thursday’s Top Stocks From TradersWire
The Dow Jones Industrial
Average gained nearly 30 points and recorded three consecutive
winning sessions. Volume was lighter than Tuesday’s level, and notice it formed
a mildly bearish tail. The Nasdaq Composite Index failed to take out the 200-day
EMA (exponential moving average) and closed near the day’s low.
Ace Ltd (ACE) is struggling to break above its 200-day EMA, and it still
looks good as a short candidate. Our new entry point is 41.17.
SeaChange International (SEAC) sold off nicely and finished near our
target price. We covered 80% of our position and moved stop to breakeven.
Now, three stocks for Thursday:
Amgen Inc (AMGN): The stock formed a bearish bar just below a declining
trendline. Short AMGN if it trades below 57.80. Target is the April 4 low
(56.19). Risk 50 cents.
St. Jude Medical (STJ): The issue could not take out the 20-day EMA and
closed poorly. Short STJ if it moves below 36.50. Target is 35. Risk 0.35-0.5.
Noble Corp (NE): The stock is testing its 38.2% retracement level, and it
looks ready to rally out of a pullback. Long NE if it takes out 57.82. Target is
59. Risk 50 cents.
T.Kamada
If you have questions, feel free to
mail them t me.