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:
WCC, BUD, MD, AYI, UTHR, PSMT, SBAC, INTU, SLB, HON, ACT, KORS, HAR, XONE
NEW DIRECTIONAL CALL PLAYS
Cognizant Technology - CTSH - close: 90.72 change: +0.49
Stop Loss: 89.25
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below
Why We Like It:
CTSH is in the technology sector. The company provides information technology consulting and outsourcing services.
CTSH reported earnings on November 5th. The company beat both the top and bottom line estimates. Management then raised their guidance. The bullish earnings news has sparked new higher price targets from analysts.
Shares are currently hovering below short-term resistance near $91.00. I am suggesting a trigger to buy calls at $91.25. If triggered our target is $99.00. More aggressive traders may want to aim higher.
The Point & Figure chart for CTSH is bullish with a $107 target.
Trigger @ 91.25
- Suggested Positions -
buy the 2014 Jan $95 call (CTSH1418a95) current ask $2.00
Entry on November -- at $---.--
Average Daily Volume = 2.1 million
Listed on November 11, 2013