Thursday’s Top Stocks From TradersWire
Cisco Systems (CSCO) was
upgraded by Raymond James to Strong Buy from Market Perform with a
target price of $22. The stock gapped above a resistance line and finished just
below the 200-day SMA. Many traders use the 200-day SMA to determine the
long-term trend of stocks.
We could manage to take a partial profit as soon as Maxim Integrated Product
(MXIM) covered our initial risk. The stock staged an afternoon rally, and the
remaining shares were stopped out at breakeven.
A hammer is a bullish candlestick. That is what you see on the daily chart of
the Dow Jones Industrial Average and the Nasdaq Composite Index.
Retail Sales for April will be released Thursday morning at 8:30.
Analysts are expecting +0.5%.
Now, three stocks for Thursday:
Amylin Pharmaceuticals (AMLN): The issue failed to take out 18, and it
formed a narrow range bar just below the 50% retracement level. Short AMLN if it
slips below 17.38. We are looking for 16. Risk 50 cents.
St. Jude Medical (STJ): The stock bounced off the 200-day EMA and closed
near the day’s high. Long STJ if it trades above 38.50. Target is near 40. Risk
50-75 cents.
United Therapeutics (UTHR): The issue is forming a flag, and we are
looking for a breakout to a new high. Long UTHR if it moves above 54.55. The
initial target is 55.75. Risk 50 cents.
If you have questions, feel free to
mail them to me.