This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Big Swing Trade Ideas for Thursday, May 15

Stocks in this article: MBT MNKD ODP

2. Next, let's look at MannKind, a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diabetes and cancer in the U.S.

MannKind traded big yesterday, closing up 6.53% to $7.01 per share.

  • Wednesday's range: $6.58 - $7.24
  • 52-week range: $3.80 - $8.70
  • Wednesday's volume: 16,617,021
  • 3-month average volume: 10,317,400

MannKind tried to break out yesterday, but failed to close above the $7.01 breakout level. We need to see confirmation today -- continued strength and increased volumes -- to get into this trade.

Mannkind is "newsy," and can be volatile, so watch this trade closely. I would enter this trade on any positive trading, and start with a 1/4 position, then add to it as it crosses the $7 level.

There is resistance at yesterday's high of $7.24-ish, then again at $7.50, and the recent high of about $8. Target the 52-week high of $8.70, which is 18% from yesterday's close, but don't be afraid to take smaller profits of just a couple of percentage points. That is still a win. 

I'd set a stop at $6.10 and stay long until you see a sell signal or a close below the t-line.

3. Next is Office Depot, the office supply company.

Office Depot traded down yesterday, down 3.47% to $5.29 per share.

  • Wednesday's range: $5.27 - $5.52
  • 52-week range: $3.77 - $5.85
  • Wednesday's volume: 21,554,173
  • 3-month average volume: 10,536,700

Office Depot has been trading nicely, up 26% in the last seven trading days -- now that's a lot in a few days.

Charts will not sustain steep inclines for too long, so they need to consolidate. That is what Office Depot is doing now. There is some profit taking, too. Frankly, if I was in this trade, I'd be taking profits as well.

I'd look for an entry around $5.08 to $5.15, and set a stop around $5. Target the 52-week high of $5.85, which is almost 10% from yesterday's close. If you are able to enter around $5, that will be another couple percent to the upside.

There is resistance at $5.35, $5.45, $5.62 and again at the 52-week high. Stay long until you see a sell signal, or a close below the t-line.

Good luck traders!

"Mankind is divided into three classes: those that are immovable, those that are movable, and those that move."
~Arabian proverb

>>Read More: Bonds Are Outperforming Stocks This Year

>>Read More: 5 Lowest-Priced 2014 Cars You'll Actually Want to Drive

>>Read More: Gannett Turns the Page and Continues the Transformation

At the time of publication, the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

2 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs