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

Cloud Buys: Big Swing Trade Ideas for Friday, May 23

2. Haemonetics engages in the design, development, manufacture and marketing of automated blood-component collection devices and surgical blood-salvage devices in the U.S. and internationally.

Haemonetics traded positive on Thursday closing up .78% to $34.68.

  • Thursday's range: $34.26 - $34.79
  • 52-week range: $29.86 - $45.90
  • Thursday's volume: 436,110
  • 3-month average volume: 662,716

Haemonetics looks good, as it's been trading positively for the last 16 trading days, up almost 15% in as many days. This chart became a rounded bottom breakout on Monday when shares closed over the 50. Confirmation came on Tuesday, and it's continued to confirm as it's been trading over the 50 all week.

I'd like to see increased volume on the breakout, so watch for that today. The share price could use a little pullback, say back to the t-line at $33.68, and I would like an entry just above that level for a greater percentage to the 200-day simple moving average. Again, I would target the 200 for a 10% move to the upside.

I'd set a stop just below the 50-day simple moving average at $33.28. There is overhead resistance at a gap down that occurred on March 23. The gap-down resistance levels are $35.35 to $37.19, so it will take some strength to break through these levels.

Keep in mind that charts rise and fall. They aren't going to shoot straight to the 200, so let the trade work. Stay long until you see a confirmed sell signal or a close below the t-line.

3. NetApp engages in the design, manufacture and marketing of networked storage solutions. The company supplies enterprise storage and data management software and hardware products and services.

NetApp traded positive on Thursday, closing up 4.84% to $36.16 per share.

  • Thursday's range: $34.82 - $36.67
  • 52-week range: $33.34 - $45.96
  • Thursday's volume: 10,150,630
  • 3-month average volume: 5,091,690

NetApp reported positive earnings on Wednesday, gapped up yesterday and closed above the 50-day simple moving average. Plus, yesterday it had double the average volume on the breakout. This is what makes for a good swing trade.

Look for continued strength today and continued trading above the 50. I'd look for an entry around the 50 at $35.96, if possible, and I'd set a stop at yesterday's low of $34.82. I would target the 200-day simple moving average for almost 10% to the upside. There is overhead resistance at $37.80 and again at the 200.

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

Good luck today -- and have a great Memorial Day weekend!

Follow me on twitter @aarongallaher

>>Read More: UnitedHealth Is Just What the Doctor Ordered for Defensive Investors

>>Read More: Boeing Wants to Be More Like Apple in Its Strategic Planning

>>Read More: Dow, Russell 2000 Market Divergence -- Warning or Opportunity?

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

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
CSOD $35.70 0.00%
HAE $32.36 0.00%
NTAP $30.69 0.00%
AAPL $117.81 0.00%
FB $105.45 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs