Tuesday’s Top Stocks From TradersWire
Intel (INTC) finally
took out 25 on increased volume and finished at a 52-week high. Look
at the 15-minute chart below. Intel closed at only inches away from the old
resistance line. Notice the last bar formed a bullish tail. We may see a
resumption of the uptrend.
Dow Jones Industrial Average shaped an ugly tail and closed poorly. It looks
like the index needs to test the prior resistance line. The Nasdaq Composite
Index has broken above the 50-day SMA (simple moving average), but it is still
below 2100. Volume was about its daily average.
Now three stocks for Tuesday:
Golden West Financial (GDW): The stock has failed to take out the 38.2%
retracement level, and it appears ready to resume the downtrend. Short GDW if it
trades below 61.53. Target is the February 22 low (59.61). Risk 50 cents.
Affiliated Computer Services (ACS): The issue could not break above a declining
trendline and closed poorly. Short ACS if it slips below 51.98. Target is near
50. Place a stop loss slightly above the trendline (52.50).
Sepracor Inc (SEPR): The stock is pulling back to the confluence of the 50-day
SMA and 50% retracement level from the March 2 high. Long SEPR if it takes out
61.53. We are looking for 63.
T.Kamada
If you have questions, feel free to
mail them to me.