In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates. Some of these stocks may need to see a break past key support or resistance:
NOC, CERN, AXP, NOV, THS, CPLA
NEW DIRECTIONAL CALL PLAYS
Ingersoll-Rand - IR - close: 58.52 change: +0.99
Stop Loss: 56.95
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below
Why We Like It:
IR is in the industrial goods sector. Investors have ignored the company's Q2 earnings warning from its earnings report back in late April. Instead traders have lifted IR stock to new all-time highs. Shares have spent the last couple of weeks consolidating sideways under resistance near $59.00. IR appears to be coiling for a breakout higher thanks to the trend of higher lows.
I am suggesting a trigger to launch bullish positions at $59.15. If triggered our target is $64.00.
FYI: IR will begin trading ex-dividend on June 12th. The quarterly dividend should be 21 cents.
Trigger @ 59.15
- Suggested Positions -
buy the Jul $60 call (IR1320G60) current ask $1.40
Entry on June -- at $---.--
Average Daily Volume = 1.6 million
Listed on June 03, 2013