Trade Ideas for Tomorrow: EGLE, TLAB, TOL, KBH

The short-term trend for Eagle Bulk Shipping Inc. (NASDAQ:EGLE) is clearly down and the stock appears headed to test its major support at $3.91. Any break below this level may take prices down to $3. At this moment the stock is extremely oversold and could bounce significantly at any time. Investors with a higher risk appetite can buy the stock here with a stop at $3.91. The short-term outlook for the stock will turn positive only on a close above the first resistance at $4.17.

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Tellabs, Inc. (NASDAQ:TLAB) has long-term support in the zone between $5.40 and $5.51. Buying can be done in this zone with a stop at $4.95 for long-term. Long-term targets are $6.81 and then $7.34.

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Toll Brothers, Inc. (NYSE:TOL) is consolidating in a narrow band between $20.10 and $20.94. The outlook for the stock is positive. The target on a breakout above $20.94 is $23.24. Hold it with a stop at $19.78.

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The short and medium-term trend in KB Home (NYSE:KBH) looks promising. The stock is currently consolidating sideways after hitting a high of $15.85 in mid of this month. Short-term support exists at $14.58 and the next support level is $14.14. Short-term resistance exists at $15.71. But the stock has the potential to move up beyond $15.85 to $16.06 and then $18. Hold with a stop at $14.14.

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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 324 Articles

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

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