Wednesday’s Top Stocks From TradersWire
JP Morgan became bullish
on the semiconductor sector. The company raised Fairchild
Semiconductor International (FCS), ON Semiconductor (ONNN), Intel
(INTC) and Cypress Semiconductor (CY) from Neutral to
Overweight before the opening bell. Needless to say, the Semiconductor
Sector Index ($SOX.X) enjoyed an up day and finished near the day’s high.
The Dow Jones Industrial Average closed only inches away from a
resistance line on decreased volume. The Nasdaq Composite Index
has taken out a minor resistance level, and it is approaching the declining
50-day SMA (simple moving average).
Now, three stocks for Wednesday:
Baxter International (BAX): The issue bounced off its 50-day SMA and
formed a bullish bar. Long BAX if it trades above Monday’s close (35.66). Target
is the February 25 high (36.50). Risk 35 cents.
Research in Motion (RIMM): The stock may be shaping a double bottom on
its daily chart. Long RIMM if it moves above 68.48. The initial target is near
the 200-day SMA (71.50). Risk 0.5-0.75.
F5 Networks (FFIV): The issue could not close above the February 15 high
again. Notice FFIV formed two consecutive bearish tails. Short the stock if it
trades below 54.73. We are looking for 53. Risk 50 cents.
T.Kamada
If you have questions, feel free to
mail them to me.