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:
GME, EC, OZRK, BSFT, JCOM, AFSI, ZUMZ
NEW BULLISH Plays
Guidewire Software, Inc. - GWRE - close: 45.47 change: +0.96
Stop Loss: 43.90
Current Gain/Loss: unopened
Entry on July -- at $--.--
Listed on July 15, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 598 thousand
New Positions: Yes, see below
Why We Like It:
GWRE sells software solutions to the insurance industry.
Given the recent strength in the insurance stocks it's not surprising to see GWRE following in their lead. Shares of GWRE recently broke out past resistance near $44.00. Now it has spent the last several days consolidating gains and coiling for the next move higher.
Shares displayed relative strength today with a +2.1% gain. The high was $45.62. We are suggesting a trigger to launch small bullish positions at $45.75. If triggered our target is $49.75. However, we will plan to exit prior to the earnings report expected in early September.
FYI: The Point & Figure chart for GWRE is bullish with a $58.00 target.
Trigger @ 45.75
Suggested Position: buy GWRE stock @ (trigger)