Friday, July 28, 2006

Trade Ideas: REXI, DADE, SEH, TEF, HNZ, SHU, CTS, IGE

A channel breakout in the S&P and relative strength in the Dow has focused most of the buying on large cap issues. I was surprised to see the Trade Ideas scan take 4 minutes to come up with 8 stocks (in days of strong buying it is usually a matter of seconds to get 8 stocks).

Stocks making bullish crosses of the 50-day MA by the 20-day MA over the last month include REXI, SEH, HNZ, SHU, CTS and IGE.

As a consumer staple, HJ Heinz (HNZ), would probably be the pick of the bunch. $43 resistance has been a tough nut to crack but it could be third time lucky based on today's action. 2006 has been good for the stock and with stops on a loss of the 50-day MA ($41.40) it could be good for you too. A push to $44 would trigger a double top breakout on the point-n-figure chart and send it on it's way to the latter chart's target of $64.







Create polls and vote for free. dPolls.com

If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
 
f9229fcfd1b1390be00cfccc86c90349c93a4179bf4227457c