Tuesday’s Top Stocks From TradingMarkets
Let me start with a
bottom fishing idea. Citigroup (C) tested the Fibonacci
projection level successfully and formed a bullish tail. We are looking to long
the stock if it trades above today’s high (42.65). Our target is near gap zone,
but the issue may struggle to take out 43. A stop can be set near today’s low
(42.10).
Diamonds Trust (DIA) failed to move above a resistance line, and
Nasdaq-100 Index Tracking Stock (QQQ) returned below its 200-day MA.
Let’s look at three stocks for Tuesday:
Stanley Works (SWK): The stock tested the prior high successfully, and it
formed a mildly bullish bar. Long SWK above 44.06. Our target is near 45.50. Use
today’s low (43.52) for a stop.
CheckFree Corp (CKFR): The issue looks ready to resume the upward move.
Long CKFR above 30.90, and our target is 32. Place a stop just below today’s low
(30.04).
Teva Pharmaceutical (TEVA): The stock broke down below a flag. Short TEVA
if it slips below 24.65. Place a stop just above today’s high (25.35) or
Friday’s high (25.90). We are looking for the October 18 low (23.75).
Good night!
If you have questions, feel free to mail them to me.