New Split Updates
None
New Candidate Updates
| ASD
- American Standard $67.35 +0.64 (+0.58)
|
ASD set a new closing high on Tuesday and appears as if it wants
to go higher. The stock was lifted $0.64 on moderate volume of
290,000 shares. We would have liked to see ASD's volume come in
over 400,000 shares, but will keep an eye on buying interest as
the stock heads towards $70.00. Support should come in around
$66 and resistance has become Tuesday's high of $67.46. We are
ratcheting up our stop to $66.00 to protect against a reversal.
| BJ
- BJ's Wholesale Club $51.31 +2.11 (+2.16)
|
BJ cranked it up on Tuesday, having plowed through the
psychological $50 level like a hot knife through butter. With
the stock resting comfortably over $51, we will be watching for
profit taking to take hold soon. That said we are raising our
stop up to $48.75 in order to protect our gains. Traders looking
to get into the warehouse retailer could look to do so on a
bounce off of $50 on volume of at least 800,000 shares traded for
the day.
| BKH
- Black Hills Corporation $55.20 -0.77 (-0.76)
|
Our energy play continued to base around the $55 level today.
The mild sell off was witnessed throughout the whole energy
sector, as investors continued to book profits. Support for BKH
has come in at $54.60 and resistance should rear its head again
at $56.35. Heavier resistance has come in at $58.50, so traders
should wait for a close above this level to protect against an
immediate reversal. Volume on any such breakout should be no
less than 350,000 shares for the day. Our stops remain at $52.25
to protect against a reversal.
| CEFT
- Concord EFS $51.34 +1.15 (+0.84)
|
CEFT notched a new closing high on Tuesday, putting to an end its
streak of three down days in a row. We are encouraged that the
stock was able to close over $50.50, but are still concerned that
resistance has held up at $51.50. If the broader market
cooperates tomorrow, we feel that CEFT has set itself up to
finally break through resistance at $51.50. Therefore, traders
looking to get into CEFT should wait for a definitive close above
this level accompanied by good volume of at least 3.9 million
shares for the day.
| CIMA
- Cima Labs Inc. $84.37 +6.34 (+9.62)
|
CIMA rocketed higher on the heels of bullish developments within
the biotech sector. Many new drugs are nearing FDA approval,
which tends to get investors interested in the whole sector. As
for our play, CIMA has now officially broken out of its previous
base. In addition, its MACD just issued a buy signal. However,
with today's $6.34 move higher, the stock has become very
vulnerable to a pullback. If you are considering opening a
position in CIMA, it might be wise to be patient and let the
stock come back towards support at today's low of $78.60 before
jumping into this biotech play. We are moving our stop up to
$80.00 to lock in some quick gains in this volatile stock.
| HRB
- H&R Block $63.73 +1.47 (+2.77)
|
HRB continued higher after its breakout on Monday. Shares gained
an additional $1.47 on Tuesday and volume remained strong, with
813,000 shares changing hands. With today's surge, HRB's MACD is
now decidedly positive and momentum seems to have shifted to the
upside. Although HRB couldn't hang on to all of its intraday
gains, it did manage to close in the upper half of its daily
range. Traders looking to initiate a position in HRB should wait
for the inevitable pullback to $62.50 before pulling the trigger.
We are moving our stops higher to $61.00 to protect our gains in
this play.
| MTG
- MGIC Investment $70.10 +1.05 (+1.47)
|
MTG made up some lost ground on Tuesday, and did so on improved
volume. MTG traded 530,000 shares and advanced back towards its
neckline. The key to MTG's next leg higher will be volume in the
session that it is able to close above $70.65. The more volume
we have on that day, the less likely it is that MTG will roll
back over. Traders may wish to time new entries with a close
above $70.65 on volume of at least 600,000 shares. Our stops
remain at $66.75 to protect on the downside.
New Momentum Updates
| BUCA
- Buca, Inc. $22.69 +0.44 (+0.29)
|
BUCA has been slowly but surely recovering from last Thursday's
downdraft. The stock has put in three bullish hammer formations
in a row so buyers may be stepping back into this restaurant
play. However, BUCA did encounter resistance at its 5-dma of
$22.85 on Tuesday so we will be watching this level closely to
see that it doesn't create a problem going forward. Traders
looking to get into BUCA should wait until the stock can break up
through resistance at $24 before committing any capital to the
stock.
| GTK
- GTECH Holdings Corp. $38.80 +0.64 (+1.55)
|
This stock just won't give up. GTK made a new high during
Tuesday's session and closed in the upper half of its daily
range, leaving a bullish hammer formation on its chart. The only
troublesome aspect to today's move was that volume came in 35%
less than GTK's average daily volume. While we continue to see
signs of underlying weakness within GTK, the stock continues to
march higher. Therefore, we are again moving our stops higher in
order to lock in gains. Our stop now resides at $37.40. Traders
looking to initiate new positions can look to do so on a pullback
and subsequent bounce off support at $38.25 on volume of at least
350,000 shares.
Play Updates Index
