Wednesday’s Top Stocks From TradersWire
I did not read the entire story, but
the headline looked troublesome. “Recent legal developments not
favorable to RMBS” (from Briefing.com) It was shortly after the open. The stock
quickly sold off on heavy volume, and it appeared selling was almost endless. As
you can see below, RMBS formed a clean 1-2-3 bottom on its 5-minute chart.
Notice, the RSI was showing a positive divergence.
Nasdaq-100 Index escaped five consecutive losing sessions. Although it
has not taken out yesterday’s high, it looks ready to resume its uptrend.
Diamonds Trust (DIA), on increased volume, closed at a 10-month high.
Now, three stocks for Wednesday:
Manpower Inc (MAN): The stock tested its support level successfully and
re-crossed above its 50-day EMA (exponential moving average). Long MAN if it
trades above 47.36. Our target is near 50. Risk 0.75-1.00.
Nanometrics Inc (NANO): The issue bounced off its rising 50-day SMA
(simple moving average) and formed a narrow range bar. Long NANO if it takes out
15.15. Target is 16.45. Place a protective stop at 14.74.
FuelCell Energy (FCEL): The stock is struggling to break above 10. Short
FCEL if it trades below 9.63. Our target is near 8.50. Place a stop at 10.01.
Feel free to mail me your questions.
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