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Big Swing Trade Ideas for Friday, May 16

NEW YORK (TheStreet) -- Good morning, traders!

It's Friday -- expiration day! According to the Stock Traders Almanac, the Dow has been down the last 14 of 24 years on this day. A lot of traders take profits on Friday, so I've found that there is always a fair amount of selling on Fridays.

Without further ado, today's picks are RealPage (RP - Get Report), Sprint (S) and Walter Investment Management (WAC - Get Report).

1. First let's look at RealPage, which provides on-demand software solutions for the rental housing industry in North America.

The company offers property management tools. Among those are OneSite, which serves the specific needs of conventional multi-family housing, affordable housing and urban development (or HUD), affordable tax-credit housing, rural housing, privatized military housing, student housing and commercial sectors. Another service is Propertyware, for accounting, maintenance and work order management, marketing spending management and portal services, as well as screening, renter's insurance and payment solutions.

RealPage trade up 1.23% on Thursday to $18.96 per share.

  • Thursday's range: $18.37 - $19.14
  • 52-week range: $15.40 ;- $26.34
  • Thursday's volume: 429,220
  • 3-month average volume: 803,129

RealPage reported excellent earnings on May 6, and has been trading up almost 10% since.

RealPage is a rounded bottom breakout, so by default it is in a downtrend. Yesterday, the chart formed a bullish engulfing signal, and will likely trade higher today. There was a gap down on Feb. 25, and the gap is acting as resistance. The gap resistance levels are from $16.03 to $20.66.

The good news is that gaps always are filled eventually. There is near-term resistance at yesterday's high at $19.14, which will act as a breakout level.

A good entry would be just above the t-line at $18.64 to yesterday's close of $18.96. I'd set a stop at $18.30, just below the 34-day exponential moving average. My first target would be the 200-day simple moving average, which is almost 12% from yesterday's close.

Stay long until you see a confirmed sell signal or a close below the t-line.

2. Next let's check out Sprint, the phone company.

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RP $17.33 -0.35%
S $4.43 0.23%
WAC $16.35 -0.30%
AAPL $111.32 0.49%
FB $92.77 -1.30%


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