Wednesday’s Top Stocks From TradersWire
The Nasdaq Composite
Index finally took out its 200-day EMA and closed above 2000. Volume
was heavier than Monday’s level, but it was still less than its daily average.
The Dow Jones Industrial Average followed through to the upside and finished
near the day’s high. The 200-day EMA is less than 70 points away.
(Charts courtesy of QCharts)
Northern Trust (NTRS) moved in our favor, and we had an opportunity to
take a partial profit. We adjusted our stop price to breakeven.
Now, three stocks for Wednesday:
Hartford Financial (HIG): The stock looks ready to break out of a
declining channel. Long HIG if it trades above 72.60. We are looking for near
75.50. Risk one point.
Diamond Offshore Drilling (DO): The issue bounced off the 200-day EMA and
closed near the day’s high. Long DO if it moves above 41.36. Target is the
declining trendline (near 42.75). Risk 75 cents.
Apollo Group (APOL): The stock is struggling to take out the 20-day EMA
after pulling back from the May 4 low. Short APOL if it slips below 71. Target
is 69. Risk 75 cents.
If you have questions, feel free to
mail them to me.
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