Top Stocks For Friday From TradersWire
Altera (ALTR)
warned that it would miss revenue estimates this quarter. The stock
gapped down at the open, but it managed to close near the day’s high. I bet some
investors are regretting their sell decisions. I know it is not going to be easy
to fill this big gap, but the stock has formed a bullish tail.
Diamonds Trust (DIA) tested the bottom of a range successfully and
reversed to the upside. Nasdaq-100 Index also made an impressive
recovery. It bounced off its rising 20-day EMA and finished strongly.
Now three stocks for Friday:
Reminder, November PPI will be announced tomorrow morning at 8:30.
Consensus is +0.1%.
QLogic Corp (QLGC): The stock looks ready to move out of a pullback from
the December 7 high. Long QLGC above 36.52. We are looking for 38. Risk 0.75.
Cree Inc (CREE): The issue formed a bullish outside bar just above the
20-day EMA. Long CREE if it takes out 41.15. Target is the December 7 high
(42.44). Risk 0.5.
F5 Networks (FFIV): The stock may be ready to resume its uptrend.
Although it closed near the high, it could not finish above Wednesday’s close.
Long FFIV if it trades above 45.09. Target is 47-47.25. Risk 0.75-1.00.
Good night!
Feel free to mail me your questions.
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