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 Friday, May 30: Best Buy, GTAT, More

Stocks in this article: BBY GTAT NE NSM

3. Next, let's look at Noble, which operates as an offshore drilling contractor for the oil and gas industry.

Noble traded positive on Thursday, closing up 2.79% to $31.34 per share.

  • Thursday's range: $30.60 - $31.35
  • 52-week range: $28.67 - $41.60
  • Thursday's volume: 3,391,167
  • 3-month average volume: 3,885,200

Noble is a rounded bottom breakout that has tried to break out several times, but has failed. Look for this trade to continue yesterday's bullish move, reflecting positive investor sentiment.

Yesterday the chart also formed a bullish engulfing candlestick, which implies price action will continue to rise today. The next overhead resistance is at $31.98 and $32.80. There's not much to worry about there, as long as we break above the current sideways movement. I would target the 200-day simple moving average for about 11% to the upside.

I'd set a stop at $30.31 or so, and stay long until you see a confirmed sell signal or a confirmed close below the t-line.

4. Lastly, let's look at Nationstar Mortgage, which provides residential mortgage loan services in the United States. The company operates in two segments: mortgage servicing and originations.

Nationstar traded positive on Thursday, closing up 3.72% to $34.57 per share.

  • Thursday's range: $32.85 - $35.12
  • 52-week range: $24.50 - $57.95
  • Thursday's volume: 1,522,260
  • 3-month average volume: 929,865

Nationstar also showed itself to be a rounded bottom breakout when it closed over the moving averages on May 28.

Yesterday really confirmed the breakout when Nationstar traded above all the near-term resistance levels. The next resistance level is at $36.41, and not much else is stopping this trade from continuing to the 200-day simple moving average. It would be nice for a small pullback today so we can get a cheaper entry. Again, I would target the 200 for 13% to the upside.

I'd set a stop around $29.88 and stay long until you see a sell signal or a close below the t-line.

Good luck traders!

>>Read More: Microsoft Working On iOS, Android-Compatible Smartwatch: Report

>>Read More: Sozzi: The Old Mall May Be Dying but the Food Court Is Booming

>>Read More: Mark Zuckerberg Bets Big on the Bay Area

>>Read More: Tim Cook Is Doing Just Fine, One 'Incremental' Step at a Time

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 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

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