Tuesday’s Top Stocks From TradersWire
It appears many traders
and investors have decided to take a break from the market. I would
not blame them. After all, markets are closed on Monday. Both Diamonds Trust
(DIA) and the Nasdaq-100 Index formed an inside bar. This narrow range
bar often signals a directional change. Can we finally expect a minor recovery
rally? Is it simply a pause before resuming a downward movement?
Now three stocks for Tuesday:
Eyetech Pharmaceuticals (EYET): The stock tested the coinciding 200-day
EMA and 100% projection level successfully. Long EYET if it takes out 39.63. The
initial target is 41.25. Risk 0.75-1.00.
Cognizant Technology Solutions (CTSH): The issue bounced off a support
line and closed near the day’s high. Long CTSH if it moves above 38.09. The
initial target is 39.65. Risk 0.5-0.75.
Autodesk Inc (ADSK): The stock has been testing a support line, and may
be ready for a minor rally. Long ADSK if it trades above 32.15. The initial
target is 34. Risk 0.5-0.75.
Feel free to mail me your questions.