Wednesday’s Top Stocks From TradersWire
Shortly after hitting
our target price of 59, Panera Bread Company (PNRA) began to
sell off sharply. Two traders in our Daytrading Room told me that Morgan Keegan
downgraded the stock to Market Perform from Outperform.
The Dow Jones Industrial Average followed through to the upside and closed above
its 200-day EMA (exponential moving average). The Nasdaq Composite Index has
recorded two consecutive winning sessions, and it is approaching its 200-day EMA.
Volume exceeded Monday’s level.
Now, four stocks for Wednesday:
Comcast Corp (CMCSA): The issue is testing the 38.2% retracement level
and 50-day EMA. Long CMCSA if it takes out 33.38. Target is the March 30 high
(34.50). Risk 0.35-0.5.
Ace Ltd (ACE): The stock is pulling back from the April 1 low, and it is
struggling to move above its 200-day EMA. Short ACE if it trades below 40.97.
Target is near 39. Risk 0.35-0.5.
Cyberonics (CYBX): The issue formed an inside bar
just above its support level after pulling back from the March 31 high. Long
CYBX if it moves above 42.68. Target is 45. Risk 50-75 cents.
SeaChange International (SEAC): The stock failed to close above its
resistance level and shaped a bearish tail. Short SEAC if it slips below 13.08.
Target is 12.25. Risk 0.35-0.35.
T.Kamada
If you have questions, feel free to
mail them to me.