In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates. Some of these stocks may need to see a break past key support or resistance:
WSO, SAFM, HBI, XOM, ULTI, UTHR, LAD, CMI, CR, SPW, MSM, MMM,
GTLS, CME, DISCA, WRLD, CBRL,
NEW DIRECTIONAL PUT PLAYS
ASML Holdings - ASML - close: 81.39 change: -0.73
Stop Loss: 82.05
Target(s): to be determined
Current Option Gain/Loss: Unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below
Why We Like It:
ASML is in the technology sector. The company, based in Europe, is in the semiconductor industry. The stock has been a big winner during this five-year bull market. Yet it looks like the rally peaked in October last year. ASML has been chopping lower. The selling pressure accelerated in April. Shares gapped down on April 16th after reporting earnings and lowering their Q2 sales guidance. Since then the oversold bounce has failed at the 10-dma multiple times.
More aggressive traders could buy puts here. I am suggesting a trigger to buy puts at $79.85. That's just under the April 16th low of $79.94. I will point out that ASML might have some support near $75.00, which is near a long-term trend line of higher lows.
However, the Point & Figure chart for ASML is bearish with a $67.00 target.
Trigger @ 79.85
- Suggested Positions -
Buy the Jun $80 (ASML1421F80) current ask $2.15
Entry on April -- at $---.--
Average Daily Volume = 1.4 million
Listed on April 30, 2014