In addition to tonight's new candidate check out these stocks that caught my eye. You might want to put them on your radar screen:
ROK - ROK is poised to challenge its February high near $91.25. A breakout past this level could portend a run at the $100 mark.
BHI - A breakout past resistance near $72.00 might e a bullish entry point.
NE - This energy stock has resistance near $46.00. A breakout past this level could be a bullish entry point.
GWW - GWW has short-term resistance at $138.00 and then at $140.00. I've put it on my radar screen for a move past $140.00.
ITW - ITW has been consolidating sideways for several weeks. A breakout past the $56 level might be a bullish entry point.
NEW DIRECTIONAL CALL PLAYS
Baidu, Inc. - BIDU - close: 124.00 change: +3.50
Stop Loss: 119.95
Target(s): 139.00, 147.50
Current Option Gain/Loss: Unopened
Time Frame: 4 to 5 weeks
New Positions: Yes, see Trigger
Why We Like It:
BIDU is Google's biggest rival in China. The stock has been showing a lot more strength than GOOG's. Shares of BIDU have been consolidating sideways the last three weeks with a bullish trend of higher lows. BIDU has short-term resistance in the $125-127 area. If the new strength in big cap tech continues I suspect BIDU will outperform.
Aggressive traders could buy calls on BIDU on a move over $125.00. I am suggesting that reader use a trigger at $127.00 to open positions. There is potential resistance at $130.00 but I'm setting our targets at $139.00 and $147.50. We will plan to exit ahead of BIDU's late April earnings report.
BIDU can be a volatile stock so I would consider this a more aggressive, higher-risk trade.
Trigger @ 127.00
- Suggested Positions -
Buy the April $130 calls (BIDU1116D130) current ask $2.07
- or -
BUy the May $135 calls (BIDU1121E135) current ask $4.05
Entry on March xxth at $ xx.xx
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume = 6.0 million
Listed on March 21st, 2010