In addition to tonight's new candidate, consider these stocks as possible trading ideas and watch list candidates. Many of these need to see a break past key support or resistance:
WHR, V, WMT, OXY, PLL, MMS, CHKP
NEW DIRECTIONAL CALL PLAYS
PPG Industries - PPG - close: 111.11 change: +0.18
Stop Loss: 109.75
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below
Why We Like It:
PPG is a specialty chemical company. The gap down at the open today was PPG stock trading ex-dividend for its quarterly 59-cent dividend. The stock is currently consolidating sideways under resistance at $112 and looks poised to breakout higher.
I am suggesting a trigger to buy calls at $112.25. We'll use a stop loss at $109.75. The $115 level could be resistance but we are aiming for $117.50.
FYI: The Point & Figure chart for PPG is bullish with a $137 target.
Trigger @ 112.25
- Suggested Positions -
buy the Sep $115 call (PPG1222I115) current ask $1.90
Entry on August xx at $ xx.xx
Average Daily Volume = 1.3 million
Listed on August 8, 2012