Tuesday’s Top Stocks From TradersWire

Although the
Semiconductor Sector index closed near the day’s low
, it managed to
finish above the 420 level. Notice this level is coinciding with the 50-day EMA
and the 38.2% retracement level.

The Nasdaq Composite index broke down below the 2050 level, but the 50-day EMA
prevented a further decline of the index. Dow Jones Industrial Average bounced
off the 61.8% retracement level, and it may be ready for a minor recovery rally.

Now, three stocks for Tuesday:

iShares Russell 2000 (IWM): The issue shaped an inside bar above the
50-day EMA after pulling back from the June 22 high. Long IWM if it takes out
62.60. We are looking for 64. Place a stop loss just below 62.

Sears Holdings (SHLD): The stock looks ready to move out of a pullback
from the June 21 high. Long SHLD if it trades above 150. Target is 155. Risk
1.0-1.5.

Brightpoint (CELL): The issue tested the 50-day EMA successfully and
closed near the day’s high. Long CELL if it moves above 21. Target is 22. Risk
50 cents.

If you have questions, feel free to
mail
them to me.

 

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