Wednesday’s Top Stocks From TradersWire
After losing three
consecutive weeks, Diamonds Trust (DIA) may be ready to rally out of a pullback.
It gained 0.67%, but volume was less than its daily average. The Nasdaq-100
Index re-crossed above the 50-day EMA and closed just below a minor
We are right in the middle of the earnings season. BK, CVG, GM, JPM, LU, LUV,
MEL, NTRS, PFE, PMTC, RDC, SAFC, SLM, and WB are reporting before the open
tomorrow (Wednesday). If you are thinking about swing trading, make sure to
check the earnings date. You don’t want to be caught by an unpleasant surprise.
I received several e-mails on UPS (United Parcel Service). Should we buy
it now? It looks interesting, but not now. UPS is testing its important support
level on its weekly chart. Let’s wait and see if the stock can bounce off this
level.Â Â Â
Now four stocks for Wednesday:
Abbott Lab (ABT): The stock tested a support line and formed a doji bar.
Long ABT if it moves above 46.39. Target is near 48. Risk 0.75.
Citigroup (C): The issue formed a bullish outside bar and finished near
the day’s high. Long C if it takes out 48.32. We are looking for the January 6
high (49.24). Risk 0.5.
American Express (AXP): The stock may be ready for a minor recovery
rally. It shaped an outside bar like C above. Long AXP if it trades above 53.20.
The initial target is 54.30. Risk 0.5.
Aeropostale (ARO): The issue is making a bear flag just below the 50%
retracement level. Short ARO if it slips below 27.67. Target is the January 7
low (25.65). Place a protective stop just above the retracement level (28.34).
Feel free to mail me your questions.