This Day On The Street
Continue to site
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

Swing Trade Ideas for Tuesday, May 20

NEW YORK (TheStreet) -- Good morning traders!

Today's picks are Tableau Software (DATA - Get Report)Haemonetics (HAE - Get Report) and HMS Holdings (HMSY)(PRGS).

1. First let's look at Tableau Software, which provides various business analytics software products in the U.S., Canada, and internationally.

Tableau traded positive on Monday, closing up 5.59% to $57.66 per share.

  • Monday's range: $54.03 - $58.18
  • 52-week range: $54.03 - $58.19
  • Monday's volume: 2,706,351
  • 3-month average volume: 2,094,710

Tableau looks good to me from a technical standpoint, as shares closed over the 20-day simple moving average yesterday. Tableau is a falling knife situation, as the share price has dropped 45% in the last 82 days, so be very careful.

The stock is going on my watch list for a potential buy today. I'd like to see continued positive sentiment today first, though.

Also, there are rumors around this stock of a takeover, and rumors can really change investor sentiment.

Technically, Tableau has stabilized at the current level, and looks like it has reached its bottom. Over the last 16 days, the chart has formed a doji -- a term for a chart shape that paints a picture of uncertainty, a battle between the bulls and bears. A doji chart has a stock price that opens and closes in almost the same spot, but it may be wide-ranging in price over the course of the day. In Japanese, doji means clumsiness, and that's how I look at the doji.

Yesterday, the Tableau chart formed a large bullish candle, and closed over the 20-day simple moving average. We need to see continued strength and increasing volumes on the breakout to enter this trade.

There is overhead resistance at around $59.00, $60.87, $63.35, $66.03 and then again at the 200-day simple moving average at $71.30. Watch for consolidation, a pullback, or continuation patterns at these levels. My first target is the 200-day simple moving average, which is almost 14% to the upside, but don't be afraid to take smaller profits on its way up.

I'd set a stop at just below the t-line at $55.93. Stay long until you see a confirmed sell signal, or a close below the t-line.

1 of 2

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
DATA $50.98 0.00%
HAE $28.01 0.00%
AAPL $93.24 0.00%
FB $117.81 0.00%
GOOG $701.43 0.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs