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:
IWM, SBUX, FISV, ECL, GD, APH, ABC, STZ, CVS, CL, HSIC, SPY, YUM, CRR, MHK, SM, MCK, FLT, MON, AXP, IBB, JAZZ, ANDE, MMM, ETN.
NEW DIRECTIONAL CALL PLAYS
Western Digital Corp. - WDC - close: 74.83 change: +0.89
Stop Loss: 72.75
Current Option Gain/Loss: Unopened
Time Frame: 4 to 8 weeks
New Positions: Yes, see below
Why We Like It:
WDC is in the technology sector. The company makes data storage products. The most recent earnings report was a bit lackluster and the stock didn't see a lot of post-earnings movement. However, after a two-week consolidation sideways WDC resumed its rally with a surge to new all-time highs last week.
Traders have been buying the recent dip at its rising 10-dma. We believe the trend continues. Today's high was $75.15. I am suggesting a trigger to buy calls at $75.25. More conservative traders may want to wait for a rally past the November 15th high at $76.10 before initiating positions.
Our target is $79.75 but more aggressive traders may want to aim higher.
The Point & Figure chart for WDC is bullish with a $91 target.
Trigger @ 75.25
- Suggested Positions -
Buy the 2014 Jan $80 call (WDC1418a80) current ask $1.40
Entry on November -- at $---.--
Average Daily Volume = 2.4 million
Listed on November 21, 2013