In addition to tonight's new candidate, consider these stocks as possible trading ideas:
Visa (V) - a breakout past resistance near 103.50 might be a short-term bullish entry point.
Nike (NKE) - a rally past resistance in the $98.00-98.25 area could be a bullish entry point.
Roper Industries (ROP) - I am watching for a breakout past the $90.00 level.
Coach Inc. (COH) - COH underperformed the market and has a bearish trend of lower highs and lower lows. Today's move may be a bearish entry point with a stop above $62.00.
Accenture (ACN) - Shares of ACN also look weak and today's move could be a bearish entry point with a stop above today's high.
NEW DIRECTIONAL CALL PLAYS
Deere & Co. - DE - close: 79.31 change: +1.96
Stop Loss: 78.45
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below
Why We Like It:
Industrial names were strong performers on Tuesday. Shares of DE gapped open higher and outperformed with a +2.5% gain. Yet shares could not breakout past resistance near $80.00 or its simple 200-dma (near 80.25). If DE does breakout past this key level then it could see a run towards $85 or $90.
I am suggesting a short-term trade to buy calls with a trigger at $80.50 and a target at $84.75. More aggressive traders could aim higher.
FYI: The Point & Figure chart for DE is bullish with a $96 target.
Trigger @ $80.50
- Suggested Positions -
buy the 2012Jan $80 call (DE1221A80) ask $1.44
Entry on January xx at $ xx.xx
Earnings Date 02/15/12 (unconfirmed)
Average Daily Volume = 3.3 million
Listed on January 03, 2012