Free stock picks for 11/10/2010
LONG:
AZO Fundamental The most recent quarterly earnings report was approximately equal to or higher than analysts’ consensus forecast, but not to a degree that is predictive of future returns. Earnings growth in the past year is holding steady compared to earnings growth in the past three years Technical Tuesday gave us very tight range after Monday run. That is continuation pattern and I will look for breakup. Setup is above Tuesday high with stop under Tuesday low.
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KO Fundamental The most recent quarterly earnings report was approximately equal to or higher than analysts’ consensus forecast, but not to a degree that is predictive of future returns. Earnings growth in the past year has accelerated moderately compared to earnings growth in the past three years what is positive. Technical I like 60 min consolidation (triangle) at high and if market will hold I believe that KO have room for another breakup to $65 area.
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SHORT:
NVDA Fundamental The most recent quarterly earnings report was significantly lower than analysts' consensus forecast what is negative. Earnings growth in the past year has accelerated rapidly compared to earnings growth in the past three years. Technical Daily chart showing CCI divergence and I will look fro pulling back to 20sma support area. Also monthly 10/20sma + daily 200sma will be resistance at this moment.
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OTEX Fundamental The ratio of OTEX's price-to-earnings multiple to its five-year growth rate. Shares are being heavily sold by financial institutions. Technical OTEX forming daily bear flag and I will look for short possibility under $43.75. It is important to stay under daily 10sma resistance area.
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TRADING THE OPEN
During normal market conditions our regular setups generally do very well regardless what time they are taken. Trading right at the open always adds risk. During this low volume choppy market of the summer this risk is more pronounced. It is recommended that new trades not be taken for the first 5 minutes the market is open. I will treat each new trade that sets up during this time as a gap trade and wait till the stock comes back and takes out its 10 minute high or low.
Trading is risky. It is our job as traders to reduce this risk and increase our chances of success.
IMPORTANT: Take only the opportunities that you really like and understand. Always enter a trade with a trading plan. If you have any questions, please feel free to ask me. There is a much greater chance of success in your trading if you understand the trade. That is very important. Taking just a few trades is enough to be a successful trader. Overtrading is probably the number one reason new traders fail. I personally mostly take swing trades. Please remember to keep that in mind!!!!!!!!!!!!!!!
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If you have any questions, please feel free to contact me.
Good luck trading today!!!!
Ivica Juracic
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