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:
CZR, BITA, EMES, DK, ECOM, FUL, ADI, MDLZ
NEW BULLISH Plays
Yandex N.V. - YNDX - close: 43.15 chnage: +0.98
Stop Loss: 40.95
Current Gain/Loss: unopened
Entry on December -- at $--.--
Listed on December 31, 2013
Time Frame: exit PRIOR to earnings in mid February
Average Daily Volume = 2.7 million
New Positions: Yes, see below
Why We Like It:
YNDX is in the technology sector. The company operates an Internet search engine in Russia.
The stock has seen significant momentum this year with a rally from its $20 lows in April. This past month has seen YNDX breakout past resistance near $42.00. These are all-time highs for the stock. I suspect the momentum continues after traders just bought the dip and retesting $42.00 as new support.
Tonight I am suggesting small bullish positions now at current levels. We'll use a relatively tight stop loss at $40.95. Our multi-week target is $48.50.
FYI: The Point & Figure chart for YNDX is bullish with a $48.00 target.
*Small positions at the opening bell*
Suggested Position: buy YNDX stock @ (the open)
- (or for more adventurous traders, try this option) -
Buy the Feb $45 call (YNDX1422B45) current ask $1.95