Tuesday’s Top Stocks From TradersWire
E Trade Financial (ET)
formally expressed an interest in acquiring Ameritrade (AMTD),
according to the Wall Street Journal. This news caused AMTD to gap up, but the
stock failed to take out 14. Why couldn’t it close above 14? I found one reason.
The issue is now facing the middle line of a pitchfork to overcome.
Community Health (CYH) broke out of a flag and closed near the day’s
high. We took a partial profit and moved stop to breakeven.
Once again, the Dow Jones Industrial Average could not move above the 200-day
EMA. The Nasdaq Composite Index gained 12 points and finished just below the
50-day EMA. Volume was light.
Now three stocks for Tuesday:
Bunge Ltd (BG): The issue is forming a flag just above a gap zone. Long
BG if it trades above 56. Target is 58. Risk 75 cents.
BB&T Corp (BBT): The stock is testing a rising trendline. Long BBT if it
moves above 40.06.Target is 41. Risk 40 cents.
Washington Mutual (WM): Like BG above, the issue is shaping a flag. Long
WM if it takes out 42.50. Target is near 44. Risk 50-75 cents.
Feel free to mail me your
questions.