Tuesday’s Top Stocks From TradersWire
A hammer worked out well.
Forward Industries (FORD) gapped up at the open and closed at 23.00, one
point above our target. Volume was more than double its usual amount.
The Dow Jones Industrial Average managed to hold above its 200-day SMA and
formed a narrow range bar. The Nasdaq Composite Index, in spite of last Friday’s
bearish ending, did not break down below a rising trendline. Volume was light.
Now three stocks for Tuesday:
Gilead Sciences (GILD): The issue closed slightly above an ascending
trendline and may be ready to resume its uptrend. Buy GILD if it takes out
41.85. The initial target is 43. Risk 40-45 cents.
Lowe’s (LOW): This is a potential breakout situation. The stock closed at
the top of a 2-week trading range. Long LOW if it trades above 58 on strong
volume. We are looking for 60. Risk 75 cents.
Carnival Corp (CCL): The issue is testing the lower boundary of a range
just above the 200-day SMA. Long CCL if it moves above 52.65. Target is
53.40-53.75. Risk 40 cents.
Feel free to mail me your
questions.