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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 05/13/2008
JEC (Jacobs Engineering--$93.94; +5.02; optionable): Engineering services
http://biz.yahoo.com/p/j/jec.html
EARNINGS: Announced 4-22-08
STATUS: Double bottom with handle breakout. Strong above average volume Tuesday as JEC broke higher out of the handle of its 18 week base. Very nicely formed pattern using the 200 day SMA on the low as support, then making a higher low with the handle at near support at the 18 day EMA. Nice and quiet action then bolting higher on strong volume as the sector enjoys good news, e.g. the FWLT earnings. That does not mean this is chopped liver; great pattern setting the foundation for a solid run after this breakout.
Volume: 2.425M Avg Volume: 1.692M
BUY POINT: $94.24 Volume=1.8M Target=$108.45 Stop=$88.89
POSITION: JEC GR - July $90c (61 delta) &/or Stock
http://www.investmenthouse.com/ct/jec.html
Play Date: 05/13/2008
SIM (Grupo Simec--$13.33; +0.58; optionable): Steel and iron
http://biz.yahoo.com/p/s/sim.html
EARNINGS: Announced 4-28-08
STATUS: Cup w/handle. Excellent volume the past week as SIM made a test of near support at the 18 day EMA and then surging higher, making the breakout move Tuesday. Very nice action as SIM breaks from its 11 month base, part of a much larger 18 month pattern. SIM is strong, ready to head higher, and it has plenty of room to run.
Volume: 446.02K Avg Volume: 155.275K
BUY POINT: $13.44 Volume=250K Target=$16.25 Stop=$12.51
POSITION: SIM GV - July $12.50c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/sim.html
Play Date: 05/13/2008
V (Visa, Inc.--$82.38; +0.48; optionable): Credit services
http://biz.yahoo.com/p/v/v.html
EARNINGS: Announced 4-28-08
STATUS: Test 18 day EMA. Testing its April surge, coming back to test the 18 day EMA (79.70) on the Monday low and rebounded. First test after that big post-earnings run (its first one; a new issue in March), and looking to play it off of this test for the next run higher off of support.
Volume: 13.318M Avg Volume: 22.736M
BUY POINT: $83.66 Volume=25M Target=$99.75 Stop=$79.55
POSITION: V IP - Sept. $80c (62 delta) or V IQ - Sept. $85c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/v.html
Play Date: 05/13/2008
YTEC (Yucheng Technologies--$17.93; +1.31; optionable): Software consulting for Chinese banking system
http://biz.yahoo.com/p/y/ytec.html
STATUS: Ascending triangle. Nicely formed 3.5 month triangle, making higher lows up the 90 day SMA below a constant top at 18. Formed this pattern after breaking higher in early February from a 3.5 month double bottom, then falling into this current pattern. Looks like a nice base on base pattern that really sets the foundation for a new move higher. Nice volume as it broke higher Tuesday, and looking for more solid trade as it continues the move.
Volume: 430.494K Avg Volume: 237.629K
BUY POINT: $18.11 Volume=300K Target=$21.95 Stop=$16.95
POSITION: TXE GW - July $17.50c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/ytec.html
Good Investing!
Jon L. Johnson and your Technical Traders Report Team
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP. or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners in Online Investment Services, LP. or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
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trade stock
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