Wednesday’s Top Stocks From TradersWire
The Nasdaq Composite
Index gained 4.42 points and recorded three consecutive winning
sessions. The index just closed below the declining 20-day EMA and formed a
mildly bearish tail.
Although it tried, the Dow Jones Industrial Average failed to close above its
resistance level and shaped a doji bar (open=close).
Jos. A. Bank (JOSB)
nicely followed through to the upside. We took a partial profit and moved our
stop to breakeven.
Now, four stocks for Wednesday:
Amazon.com (AMZN): The issue closed just below the 20-day EMA after
pulling back from the April 27 low. Short AMZN if it slips below 32.89. The
initial target is 32. Risk 40 cents.
Forward Industries (FORD): The stock is forming a flag above the rising
50-day EMA. Long FORD if it takes out 15.20. The initial target is 16. Risk 40
cents.
Willis Group Holdings (WSH): The issue is in a pullback from the April 28
low. Short WSH if it trades below 34.30. The initial
target is 33. Risk 50 cents.
Nextel Partners (NXTP): The stock is testing its support level after
pulling back from the April 29 high. Long NXTP if it moves above 22.75. The
initial target is 23.50. Risk 35 cents.Â
If you have questions, feel free to
mail them to me.