Trade Ideas: GPN, NFLX, NRG, TLAB

Tellabs, Inc. (NASDAQ:TLAB) was one of the stronger stocks today bouncing off support. Formed a nice bullish engulfing pattern and volume was above average on the day, which is bullish. The technical chart also shows that stochastics are turning back up from an oversold condition indicating a rally could be on the horizon. A close above the 20 day average which resides at $4.80 will re-establish the short-term bullish posture of the stock with $5.01 as the next upside objective. If I was short I would be nervous about it failing to breakdown. Move TLAB to your watch list.

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Netflix, Inc. (NASDAQ:NFLX) has produced yet another failed rally near $246. The action in NFLX today doesn’t look bullish. Overall nothing has changed and the stock continues to look bearish in the short-term.

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Global Payments Inc. (NYSE:GPN) tried to break out but the weak market pulled the stock down from its high on the day. The stock hit a high of $53.65 which is now resistance for Friday’s follow through move. Although this trend is encouraging, the near-term outlook stays cautious till the stock closes conclusively above this level on heavy volume. Bulls could remain invested with a stop loss at $51.54.

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NRG Energy, Inc. (NYSE:NRG) continues to consolidate, but could make a breakout move soon. The stock is sitting on its 5-day sma, gaining momentum for an upcoming move. Resistance is $25.14. I expect to see a strong upside move if the stock can break through this resistance level. Watch the stock closely on Friday.

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Disclaimer: This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.
About Antonio Costa 325 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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