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:
YOKU, YHOO, SFM, SEMG
NEW BULLISH Plays
Adobe Systems - ADBE - close: 53.08 change: +0.45
Stop Loss: 51.25
Current Gain/Loss: unopened
Entry on October -- at $--.--
Listed on October 21, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 3.6 million
New Positions: Yes, see below
Why We Like It:
ADBE is in the software business. The company reported earnings back in mid September. Believe it or not but ADBE missed both the top and bottom line estimates. You wouldn't know it by the reaction in the stock. Shares gapped higher the next day as investors reacted to growth in its subscription business, which was better than expected.
Since its earnings report ADBE has since filled the gap and now rebounded. The stock is trading at new all-time highs and looks poised to keep going.
Today's high was $53.27. I am suggesting a trigger at $53.50. If triggered our multi-week target is $58.50.
Trigger @ 53.50
Suggested Position: buy ADBE stock @ (trigger)
- (or for more adventurous traders, try this option) -
buy the 2014 Jan $55 call (ADBE1418a55) current ask $1.84