Thursday’s Top Stocks From TradersWire
Celgene Corp (CELG)
broke down below its 20-day EMA and closed near a potential support
level. Don’t forget to adjust your stop lower.
The Dow Jones Industrial Average lost 11.74 points and formed a bearish tail.
The Nasdaq Composite Index finished just below the 2100 level again.
Ameritrade (AMTD) is buying TD Waterhouse from Toronto-Dominion
Bank. Look at the daily chart below. AMTD exploded to a new high on extremely
heavy volume.
Now three stocks for Thursday:
ConocoPhillips (COP): The issue is pulling back to a rising trendline
from the June 20 high. Long COP if it trades above 59. We are looking for 61.
Risk 0.75-1.00.
Federated Department Stores (FD): The stock is shaping a flag above its
20-day EMA. Long FD if it moves above 73.35. The initial target is the June 14
high (75.51). Risk one point.
KLA Tencor (KLAC): The issue is struggling to break out of a trading
range. Short KLAC if it slips below 46.30. Target is 45. Risk 75 cents.
If you have questions, feel free to
mail them to me.