Tuesday’s Top Stocks From TradersWire.
First Marblehead (FMD)
failed to take out a resistance line and closed poorly. Notice the
issue broke down below a bear flag. I am sure some of you already took a partial
profit and adjusted stop to breakeven.
The Nasdaq Composite index bounced off its 20-day SMA (simple moving average),
but it could not finish above the June 9 high. The Dow Jones Industrial Average
failed again to break out of a trading range. Volume was light.
Now three stocks for Tuesday:
Sepracor (SEPR): The issue formed a mildly bearish tail just below the
50% retracement level. Short SEPR if it slips below 58.25. The initial target is
57. Risk 50 cents.
Alliance Data Systems (ADS): The stock shaped a doji bar (open=close)
just below the 38.2% retracement level. Short ADS if it trades below 36.70. The
initial target is near 35.50. Risk 50-60 cents.
eBay Inc (EBAY): The issue is testing its 38.2% retracement level, and
may be ready for a minor recovery rally Long EBAY if it moves above 37.40. We
are looking for 39. Risk 60 cents.
If you have questions, feel free to
mail the to me.