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:
DCI, DOW, LPS, HVT, DMND, TPX, CR, NLNK
NEW BULLISH Plays
WageWorks, Inc. - WAGE - close: 59.66 change: +0.29
Stop Loss: 57.75
Current Gain/Loss: unopened
Entry on December -- at $--.--
Listed on December 16, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 347 thousand
New Positions: Yes, see below
Why We Like It:
WAGE is in the services sector. According to the company's website, WageWorks is a leading provider of Consumer-Directed Benefits (CDBs) in the United States. WageWorks administers and operates a broad array of CDBs, including pretax spending accounts, such as health and dependent care Flexible Spending Accounts (FSAs), as well as Commuter Benefit Services, including transit and parking programs, Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs), and other employee benefits.
The stock has seen a lot of momentum in 2013 with a rally from $18 to $60. Shares could benefit from some end of quarter and end of year window dressing by money managers. Technically shares just broke out from a two-week trading range and now they're about to push through round-number resistance at $60.00.
Today's high was $60.42. I am suggesting a trigger to launch bullish positions at $60.55. If triggered our multi-week
target is $67.50.
Trigger @ 60.55
Suggested Position: buy WAGE stock @ (trigger)