Tuesday’s Top Stocks From TradersWire
Nearly 177 million shares of Google (GOOG)
became available for trading following their release from lockup
restrictions. The issue gapped down at the open on this news, but it reversed to
the upside and formed a bullish outside bar. Volume was almost three times its
daily average. Notice GOOG closed right at a declining short-term trendline.
Diamonds Trust (DIA) did not give us any clear directions. It shaped an
inside bar on light volume. The Nasdaq-100 Index gained 0.5%, but it
could not take out the 50-day EMA (exponential moving average).
Now, four stocks for Tuesday:
Retail Sales for January is going to be released at 8:30 AM. Analysts are
expecting -0.5%. Pay attention to stocks such as WMT, COST, TGT,
LOW and KMRT.
Golden West Financial (GDW): The issue formed a small hammer just above
the 50% retracement level after pulling back from the February 4 high. Long GDW
if it trades above 63.76. The initial target is near 65. Risk 0.5-0.75.
Mercury Interactive (MERQ): The stock tested a support level successfully
and closed near the day’s high. Long MERQ if it moves above 47.51. We are
looking for 49.50. Risk 0.75.
American Eagle Outfitters (AEOS): The issue looks ready to rally out of a
pullback. Long AEOS if it takes out 51.34. The initial target is 52.75. Risk
0.5.
Clear Channel Communications (CCU): The stock hit a resistance level and
closed poorly. Short CCU if it slips below 34.35. The initial target is 33.50.
Risk 0.35.Â
T.Kamada
Feel free to mail me your
questions.
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