Tuesday’s Top Stocks From TradingMarkets
Piper Jaffray doubled
Apple Computer’s target price to 100 from 52. The stock gapped up
more than 5% at the open on extremely heavy volume. I wonder how many traders
decided to short the stock after observing the third bar around 9:40 AM. It
closed near the low and looked ready to move below the upper Bollinger Band.
Nasdaq-100 Index Tracking Stock (QQQ) managed to return inside of a
rising channel. It closed near the day’s high, but volume was light. Diamonds
Trust (DIA) regained some of Friday’s losses and finished strongly. Volume
was heavier than the average.
Let’s look at three stocks for Tuesday:
The market is refusing to provide us a decent pullback. It does not want to give
us consecutive down days. Short-sellers are discouraged. Buyers are getting
impatient.
Pixar (PIXR): The issue tested the 50% Fibonacci retracement level and
formed a bullish long tail. Long PIXR if it trades above 87.24. Place a stop
just below 85, or risk one point. Our target is 90.
Cigna Corp (CI): The stock looks ready to rally out of a pullback from
the November 15 high. Long CI if it takes out 69.40. Target is near 72. Risk one
point.
priceline.com (PCLN): The issue tested the 38.2% Fibonacci level
successfully and shaped a bullish candlestick. Long PCLN if it moves above 24.
Our initial target is 25. Risk 0.5.
Good night!
Feel free to mail me your questions.