Friday, July 20, 2012

Trade ideas for next week

Nike Inc. performed well and we still keep our long position however we tightened the Stop-Loss to USD 93, so if something goes wrong we are out with a profit.

Ross Stores Inc. was closed already and Tesco Corp. can still receive support from 30 day Moving Average.

We shorted Deutsche Bank again, let’s see where it goes (below 25.00 again?) after LIBOR and layoff news.

We also went long Tiffany & Co. given the recent strong performance.

We are quite reluctant to open anything new ahead of the weekend, but these are the shares to watch and trade next week.

Peugeot S.A.

Broke down from a bearish trend is never good sign. It did pick up reasonably well, but lacked the momentum to climb further. Opportunity for short next week.

General Motors Co.

Most analysts agreed a BUY recommendation on this company with a target price of 31.33. Double bottom formation should give positive signals but the bearish trend is yet to be broken. So far only the 20 day Moving Average gave support. Definately interesting stock as it could go anywhere from here and will most likely be influenced by the macroeconomic mood.

Intel Corp.

After amazing run we saw a correction in part forced by profit taking and in part due to the share still being in declining move. Breaking and staying above 200 day Moving Average gives optimism. Shall it break out from the trend, the 29+ USD is possible again. Risk to the downside below 25.00

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