Monday, January 08, 2007

Trade Ideas: C, TUP, CX, BIG, GE, KNL, AVZ, CW

Modest gains in the markets disguised some breezy buying in the market. The Trade Ideas scan took less than 1 minute to come up with 8 stocks, well ahead of anything last week, or throughout December.

A broad swathe of stocks were featured. Although only one, Big Lots (BIG), was able to break the 20 appearance barrier at 33 hits.

Amvescap (AVZ) made a bullish cross of its 50-day MA by the 20-day MA inside the last 2-months. This same stock also pushed a bearish cross of these averages over the same time period - so will the most recent cross signal a return to the up trend? The remaining stocks all traded their 20-day MAs above their 50-day MAs.

Trend traders will find the most love with Big Lots (BIG) as it shows a perfectly 45 degree angled advance. Cup-and-handle buyers should look to Knoll (KNL) and Amvescap (AVZ). Knoll (KNL) has some solid support at $21 with resistance around $22.50. A break of the latter price should see a move to $27.50. Stops can go on a loss of the 50-day MA. Amvescap (AVZ) has resistance at $24 ($24.50) with support at $22. The projected base target is up around $32.



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