Additional Trading Ideas:
In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates. Some of these may need to see a break past key support or resistance:
OSK, AVT, PTEN, JKS, FOR, MPEL, OSTK, PACW
XONE, BJRI, SWI, ABMD
NEW BULLISH Plays
Ryanair Holdings - RYAAY - close: 50.92 change: -0.07
Stop Loss: 48.90
Current Gain/Loss: unopened
Entry on September -- at $--.--
Listed on September 25, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 540 thousand
New Positions: Yes, see below
Why We Like It:
RYAAY is an Ireland-based airline and is considered Europe's biggest budget airliner. Investors must be in a forgiving mood because RYAAY issued an earnings warning on September 4th. The stock spiked down toward $41.00 a share and then bounced. The stock has been up almost nonstop from that early September low. This week has seen RYAAY breakout past resistance near $50.00 and its 50-dma.
If traders are willing to buy RYAAY on bad news that could be considered a bullish signal. Shares found support at $46 and $48 on the way up and now we can look for potential support near $50.00.
I am suggesting small bullish positions now. More nimble traders may want to wait and try to jump in on a dip near $50.00 instead. I am suggesting a stop loss at $48.90 to start. Our target is $54.50.
Suggested Position: buy RYAAY stock @ (the open)