Long Play Updates
Apria Healthcare - AHG - cls: 33.77 chg: +0.11 stop: 31.45
The sideways consolidation in AHG seems to be slowly coiling higher with a tighter range and higher lows. Odds are growing for a bullish breakout over the $34.00 level. If you're looking for a new bullish position watch for a dip near the rising 10-dma (around $33.25). Our target is the $35.75-36.00 range. We do not want to hold over the May 1st earnings report.
Picked on March 27 at $32.37
Arrow Elctr. - ARW - cls: 41.08 chg: +0.08 stop: 37.74
ARW continues to slowly inch higher following last week's bullish breakout over resistance at the $40.00 level. Traders continue to buy the dips although we noticed that volume has slowed down over the last couple of days. Both the short-term and longer-term trend looks bullish. Our concern is that ARW is arguably short-term overbought and due for a dip. If you're looking for a new entry point another dip or bounce near $40 looks like a good spot to consider buying the stock. Our target is the $43.75-45.00 range. We don't have much time and plan to exit ahead of the April 24th earnings report. FYI: More aggressive traders may want to use a wider stop loss under the 50-dma.
Picked on April 09 at $40.15
Brookfield Asset Mgmt - BAM - cls: 55.29 chg: -0.29 stop: 52.35
BAM's performance on Friday was a little disappointing. We expected some sort of pop on the stock buyback news from Thursday night. Instead the stock produced another short-term failed rally under the $56.00 level. We'd probably look for a dip back toward the 10-dma around $54.60 before considering new bullish positions. Our target is the $58.75-59.00 range. We do not want to hold over the early May earnings.
Picked on April 08 at $54.76
Basic Energy - BAS - cls: 25.19 chg: -0.20 stop: 23.19
If you're looking for a new entry point watch for a bounce near $25.00 or a dip and bounce closer to the $24.00 level. Overall we do not see any changes from our Thursday night new play description so we're reposting it here:
We think there is more strength ahead of the oil and oil services stocks. That's why we're willing to chase BAS here in spite of its impressive gains this week. The stock broke out past resistance near $24.00 three days ago and volume has continued to rise with the rally. Thursday's session produced another breakout past the simple 200-dma on big volume. This week's bullish surge has broken the long-term trend of lower highs. We are suggesting long positions with BAS above $24.00 but we would be surprised if the stock dipped that low again any time soon. Our target is the $29.00-30.00 range. We do not want to hold over the early May earnings report.
Picked on April 12 at $25.39
Bristow Group - BRS - close: 37.71 chg: +0.61 stop: 35.74 *new*
The rally in BRS is starting to pick up steam. The stock broke out to a new relative high on Friday with a 1.6% gain. Volume picked up coming in above average on the rally, which is bullish. We are raising our stop loss to $35.74. More conservative traders may want to put their stop closer to the $36.00 mark. Our target is the February highs in the $38.40-38.50 range. FYI: The P&F chart is bullish and points to a $47 target.
Picked on March 11 at $35.88
Cabot Oil - COG - close: 35.59 change: -0.36 stop: 33.45
The technical picture is mixed on COG but the overall pattern remains bullish. The stock is trading near new all-time highs and looks poised to breakout over resistance at $36.00 soon. Nimble, more aggressive traders might want to consider buying a dip or bounce near $35.00. We are waiting for the breakout and suggesting a trigger to buy the stock at $36.15. If triggered our target is the $39.75-40.00 range. We do not want to hold over the April 30th earnings report.
Picked on April xx at $xx.xx <-- see TRIGGER
eBay Inc. - EBAY - close: 34.78 chg: +0.73 stop: 33.35 *new*
Bullish breakout alert! EBAY surged higher at the open and closed up 2.1% and above resistance near $34.40. We couldn't find any specific news to account for the rally. Some of the news stories today attribute EBAY's strength toward speculation that earnings will be strong when the company reports next week. If only we had more time, then readers could use Friday's breakout as an entry point. Unfortunately, our plan is to exit at the closing bell on Wednesday, April 18th to avoid the company's earnings announcement later that day. Please note that we're adjusting the stop loss to $33.35. EBAY has already hit our conservative target in the $33.85-34.00 area.
Picked on March 05 at $30.49
Helmerich Payne - HP - cls: 31.92 chg: -0.04 stop: 30.45
We don't see any changes from our Thursday comments on HP. Readers will want to strongly consider an early exit right here to lock in a gain. The stock is up significantly and could easily dip back toward broken resistance and what should be new short-term support around $31.00. We're not suggesting new positions at this time. Our target is the $32.35-32.50.
Picked on March 19 at $28.77 *gap higher*
James River Coal - JRCC - cls: 9.01 chg: +0.36 stop: 7.89
JRCC looks ready to start a new leg higher. Midweek the stock pulled back from Monday's high, which had been fueled by rumors of future M&A activity in the coal sector. This past Friday the stock rallied 4.1% and looks poised to continued on Monday. Our target is the $9.90-10.00 range. We do not want to hold over the early May earnings report.
Picked on April 08 at $ 8.15
KLA-Tencor - KLAC - cls: 54.72 chg: -0.95 stop: 52.75
Shares of KLAC were downgraded on Friday morning and the stock spiked lower at the open. Fortunately, traders bought the dip near the $54.00 level and KLAC posted a decent bounce from its early morning lows. The intraday rebound also looks like a bounce from its rising trendline of higher lows (support). More aggressive traders may want to buy this dip now. We are suggesting that readers wait for another rally past $55.00 (or $55.15, our original entry point) before initiating new positions. Bear in mind that we do not want to hold over the April 26th earnings report. Our target is the $59.50-60.00 range.
Picked on April 04 at $55.15
Titan Intl - TWI - cls: 27.17 chg: -0.03 stop: 25.45
TWI is holding up. The stock only list 3 cents on Friday and traders continue to buy the dip. Shares look poised to move higher next week. We are not suggesting new positions at current levels. Our target is the $27.90-28.00 range.
Picked on April 04 at $26.25
UNIT Crp. - UNT - cls: 55.94 chg: +0.68 stop: 49.89
More conservative traders may want to consider exiting early and taking a profit in UNT right here. The stock turned in a very impressive week and share have closed up six days in a row. UNT is starting to look short-term overbought. Overall the pattern looks very bullish. If you're looking for a new entry point we'd wait for a significant dip (maybe in the $53.00-52.00 range). Our target is the $58.00-60.00 range. We do not want to hold over the late April earnings report.
Picked on April 08 at $51.95
Short Play Updates
Closed Long Plays
Closed Short Plays