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:
STX, ABBV, AN, CSC, NDAQ, CSIQ, PRFT, DWA, FNP, CAF, GHL, SRPT
NEW BULLISH Plays
Autodesk, Inc. - ADSK - close: 46.29 change: +0.53
Stop Loss: 44.90
Current Gain/Loss: unopened
Entry on December -- at $--.--
Listed on December 04, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 3.0 million
New Positions: Yes, see below
Why We Like It:
ADSK is in the technology sector. The company makes computer-aided design (CAD) software and similar products.
The stock rallied following its better than expected earnings report on November 20th. Shares have since been resistant to any profit taking. You can see that ADSK has consolidated sideways and actually rallied in spite of the market's recent weakness.
Today the stock got a boost thanks to one firm raising their price target on ADSK to $56.00. Another firm raised their price target to $55.00 following the earnings report. That's encouraging but ADSK does have resistance in the $51.00 area.
Today's intraday high was $46.47. I am suggesting a trigger to open bullish positions at $46.55. If triggered our short-term target is $50.00. More aggressive investors may want to aim higher.
FYI: The Point & Figure chart for ADSK is bullish with a $56.00 target.
Trigger @ 46.55
Suggested Position: buy ADSK stock @ (trigger)
- (or for more adventurous traders, try this option) -
Buy the 2014 Jan $47 call (ADSK1418a47) current ask $1.38