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
TheStreet Open House

Swing Trade Ideas for Monday, May 19

NEW YORK (TheStreet) -- Good morning traders!

Today, we'll look at Autodesk (ADSK - Get Report)Applied Materials (AMAT - Get Report) and Catamaran (CTRX).

1. First, let's look at the software company that created AutoCAD -- Autodesk. Autodesk traded big on Friday, closing up 8.05% to $51.67 per share.

  • Friday's range: $49.61 - $52.07
  • 52-week range: $33.01 - $58.68
  • Friday's volume: 7,642,790
  • 3-month average volume: 3,071,810

Autodesk is up 55% from the 52-week low, and the company had a big day on Friday, following a stellar earnings report on Thursday. On Friday there was above average volume, and price action gapped up due to after-market trading on Thursday and Friday premarket trading.

Before earnings, Autodesk was trading flat for the past month or so, after a slight downtrend. The month-long consolidation period was broken on Friday by the big gap up.

Today we will likely see some profit-taking and a little consolidation for the next few days. I'd set a stop just below Friday's low of $49.61, or as low as the 50-day simple moving average at $48.76. There is overhead resistance at roughly $52.55, $53.54, $54.72, and then again at the 52-week high of $58.68. The most compelling resistance is at the $53.54 level, so watch for a little consolidation there, and even a little pullback.

Watch for continued strength and interest today to confirm the positive sentiment. For now, target the 52-week high, which is almost 12% from Friday's close. Stay long until you see a confirmed sell signal and a close below the t-line

>>Read More: Why Apple and Google Ended Their Thermonuclear Rift

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
AMAT $22.83 0.00%
ADSK $58.72 0.00%
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

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