Wednesday’s Top Stocks From TradingMarkets
American International
Group (AIG) exploded. It opened with a giant gap and finished 7.5%
higher. It would be almost impossible to predict this huge movement, but the
14-period RSI was positively diverging. If you were a short seller, you could
have gotten out of a position just in time.
Diamonds Trust (DIA) decisively took out 98 and closed right at a
short-term declining trendline. Nasdaq-100 Index Tracking Stock (QQQ)
looks ready to challenge the top of a trading range. It managed to finish
slightly above its 200-day moving average.
Let’s look at three stocks for Wednesday:
Apple Computer (AAPL): The stock is forming a narrow trading range just
above its rising 10-day MA. Long AAPL if it trades above 48.35. Place a stop
just below the trading range. Price target is near 50.
JB Hunt Transport Services (JBHT): The issue tested the prior high and
closed near the day’s high. Buy JBHT above today’s high (40.19). Place a stop
just below today’s low (38.90), or 39.25. Our initial goal is the October 22
high (40.94).
Cott Corp (COT): The issue failed to move above a gap and formed a
bearish tail. Short COT if it slips below 25.69. place a stop slightly above
today’s high (26.75). Our target is near 23.
Good night!
If you have questions, feel free to mail them to me.
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