Thursday’s Top Stocks From TrdersWire
It was a disappointing
trading session. As you can see below, both Diamonds Trust (DIA)
and the Nasdaq-100 Index are truly struggling to take out the 20-day EMA
(exponential moving average). Let me try to give you an optimistic view. The
lower boundary of the trading range is still intact. Anyway, don’t be too
aggressive on buying now.
Now, three stocks for Thursday:
Currently, eBay (EBAY) is trading more than 8 points lower in after
hours. Needless to say, this will negatively affect the market tomorrow
(Thursday).
Maxim Integrated Products (MXIM): The issue failed to take out the 50%
retracement level and formed a bearish outside bar. Short MXIM if it trades
below 39.35. The initial target is near 38. Risk 0.5-0.75.
Garmin Ltd (GRMN): The stock could not break above the 50-day EMA and
finished near the day’s low. Short GRMN if it slips below 51.80. Our target is
the January 12 low (48.88). Risk one point.
Fidelity National Financial (FNF): The issue is showing relative
strength. Long FNF if it moves above 44.55. Target is near 46. Risk 0.75.
Feel free to mail me your questions.