Additional Trading Ideas:
In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates. Many of these need to see a break past key support or resistance:
MNRO, HOMB, VIPS, RYL, CHUY, LGND, ININ, FRGI, CAVM, TRS, CLNE, SNCR, FIVE, CSX, PHM, ORCL
NEW BULLISH Plays
Hornbeck Offshore Services - HOS - close: 44.93 change: +1.24
Stop Loss: 43.40
Current Gain/Loss: unopened
Entry on March -- at $--.--
Listed on March 14, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 539 thousand
New Positions: Yes, see below
Why We Like It:
Energy stocks were showing strength today and the oil services were outperforming its peers in the oil sector. HOS is an oil service company. Shares delivered a strong +2.8% gain. The stock is poised to breakout past resistance near the $45.00 level.
I am suggesting a trigger to launch bullish positions at $45.25. If triggered our target is $49.50.
FYI: The Point & Figure chart for HOS is bullish with a long-term $71.00 target.
Trigger @ 45.25
Suggested Position: buy HOS stock @ (trigger)