Tuesday’s Top Stocks From TradersWire
Advanced Micro
Devices
(AMD) was upgraded by Legg Mason to buy from hold with a target
price
of $20. The issue closed right below the 50% retracement level and formed a
narrow range bar. Volume was light.
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The Nasdaq Composite Index finished slightly below the 200-day EMA, and the
Dow
Jones Industrial Average escaped three straight losing sessions.
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Washington Mutual (WM) staged a strong rally and shaped a bullish
wide
range bar. We took a partial profit and moved stop to breakeven.
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Now three stocks for Tuesday:
Wyeth (WYE): The issue formed an inside bar after pulling back from
the
May 9 high. Long WYE if it takes out 44.76. Target is near 46. Risk 50
cents.
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Emerson Electric (EMR): The stock is shaping a flag just above its
200-day EMA. Long EMR if it trades above 66.50. Target is 68. Risk
0.5-0.75.
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Northern Trust (NTRS): The issue bounced off a rising trendline and
closed near the day’s high. Long NTRS if it moves above 45.80. Target is 47.
Risk 50 cents.
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Feel free to mail me your
questions.
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