Editor's Note:

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:

(bullish ideas)

(bearish ideas)


Iconix Brand - ICON - close: 39.18 change: +0.58

Stop Loss: 37.90
Target(s): 44.00
Current Gain/Loss: unopened

Entry on November -- at $--.--
Listed on November 26, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 728 thousand
New Positions: Yes, see below

Company Description

Why We Like It:
ICON is in the consumer goods sector. According to their website ICON owns, licenses and markets a growing number of consumer brands. Most of them appear to be apparel brands. The company's most recent earnings report in late October was bullish. ICON beat on the bottom line and then raised their guidance. Shares surged six days in a row following its earnings report. Currently ICON has spent the last couple of weeks consolidating sideways and digesting those gains.

I am suggesting a trigger to launch bullish positions at $39.50. It is possible that the $40.00 level could be round-number resistance. Therefore more conservative traders may want to wait for ICON to trade over $40.00 before initiating positions. If we are triggered at $39.50 our multi-week target is $44.00.

Trigger @ 39.50

Suggested Position: buy ICON stock @ (trigger)

Annotated chart: