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:
WFM, SLXP, HSY, SYK, UA, CSC, GILD,
XOM, PSX, OII
NEW DIRECTIONAL CALL PLAYS
F5 Networks - FFIV - close: 109.50 change: +2.22
Stop Loss: 106.90
Current Option Gain/Loss: Unopened
Time Frame: 4 to 5 weeks
New Positions: Yes, see below
Why We Like It:
FFIV is in the technology sector. The company develops and sells computer networking products. The stock soared in late January following a better than expected earnings report where FFIV beat Wall Street's top and bottom line estimates. FFIV's management then guided higher.
The $110-111 zone has been long-term resistance since 2012. Today's display of relative strength leaves FFIV poised to breakout past this resistance.
We're suggesting a trigger to open bullish positions at $111.10. If triggered our multi-week target is $118.50. We'll start with a stop loss at $106.90. More conservative traders will want to consider a higher stop loss.
Trigger @ 111.10
- Suggested Positions -
Buy the MAR $115 call (FFIV1422C115) current ask $2.69
Entry on February -- at $---.--
Average Daily Volume = 2.8 million
Listed on February 10, 2014