Trade Ideas: GTK, EMC, XEC, SWX, NKE, LNG, RTU, OPNT
Only the first stock on the list, GTK, featured on the Channel Scan. The remainder were drawn from the Base Scan. GTK : Hugging the 50-day MA. Watch for break of $33.50. Point-n-figure target of $57 looks interesting. EMC : Sneaking a move over the 200-day MA (but after a 'Death cross' in the 50-day/200-day MAs. Short term move to watch for is a test of $14.50 resistance. Stops on a loss of $13.50 XEC : Bounce of $40 looks to be holding at the 50-day MA. Next advance should be to test $48 resistance. Stops on a loss of the day's lows SWX : Consolidated yesterday's gains, holding the upper range from yesterday's trading - bullish. Breakout buyers will be waiting for a close over $28 before acting. Stops on a loss of $27.50 NKE : Approaching $88 resistance. Broad, symmetrical triangle on the weekly chart. Projected move is for $108. Point-n-figure target of $100 is a logical intermediate term target (3 weeks-6 months). LNG : Flat(ish), rounding bottom, covering 2 1/2