From a technical perspective, IRWD is currently trending below both its 50-day and 200-day moving averages, which is bearish. This stock has been downtrending badly for the last two months, with shares dropping from a high of $14.35 to its recent low of $11.16 a share. During that downtrend, shares of IRWD have been making mostly lower highs and lower lows, which is bearish technical price action. That said, the stock has now hit a level it has repeatedly found buying interest at for the last six months. That level sits just above $11 a share.
If you're bullish on IRWD, then I would look for long-biased trades if this stock can manage to hold above $11.13 a share with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 590,916 shares as bullish. If IRWD can hold above that low, then this stock has a great chance of following its past trading pattern, which usually sees it bounce back towards $13 to $14 a share.
Tuesday MorningAnother name that insiders are finding attractive here is retail player Tuesday Morning (TUES). This company is a closeout retailer of upscale home furnishings, housewares, gifts and related items in the United States. Insiders are buying this stock into some notable strength, since shares are up over 70% so far in 2012. Tuesday Morning has a market cap of $255.41 million and an enterprise value $256.30 million. This stock trades at a premium valuation, with a trailing price-to-earnings of 110.93 and a forward price-to-earnings of 26.04. Its estimated growth rate for this year is -50%, and for next year it's pegged at 283.3%. This is not a cash-rich company, since the total cash position on its balance sheet is $10 million and its total debt is $12.5 million. A director just bought 456,735 shares, or about $2.70 million worth of stock, at $5.86 to $5.97 per share. From a technical perspective, TUES is currently trending above its 200-day moving average and just below its 50-day moving average, which is neutral trendwise. This stock has been uptrending extremely strong for the last six months, with shares rising from a low of $3.66 to its recent high of $6.86 a share. During that uptrend, shares of TUES have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed TUES within range of triggering a near-term breakout trade.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV