Tuesday’s Top Stocks From TradersWire
How was your Super
Sunday? Do you still have a headache or an upset stomach? The market
could not give us a clear direction as if it were trying to recover from a
hangover. Both Diamonds Trust (DIA) and Nasdaq-100 Index formed a
narrow range bar on light volume. Notice a bear flag is still intact on the
daily chart of Nasdaq-100 Index.
Now, four stocks for Tuesday:
Caterpillar Inc (CAT): The issue is pulling back to the confluence of the
50% retracement level and the 50-day MA from the January 27 low. Short CAT if it
slips below 91.23. The initial target is 89. Risk 05-0.75.
CIT Group Inc (CIT): The stock failed to close above the upper boundary
of a gap zone and finished near the day’s low. Short CIT if it trades below
41.55. The initial target is 40. Risk 0.5-0.75.
InfoSpace Inc (INSP): The issue formed a narrow range bar just above the
38.2% retracement level after pulling back from the February 2 high. Long INSP
if it takes out 45.42. The initial target is 46.75. Risk 0.5.
Juniper Networks (JNPR): This is a potential reversal situation. The
issue has formed a long bullish tail, and it is indicating a positive stochastic
divergence. Long JNPR if it moves above 23.20. The initial target is the 200-day
MA (24.21). Risk 0.35-0.5.
T.Kamada
Feel free to mail me your
questions.