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

Big Swing Trade Ideas for Monday, June 2 With Huge Gain Potential

NEW YORK (TheStreet) -- Good day traders!

Today's top picks are General Cable (BGC - Get Report)Theravance (THRX - Get Report) and Ventrus Biosciences (VTUS).

1. First, let's look at General Cable, which designs, develops, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, industrial, construction, specialty, and communications markets worldwide.

General Cable traded up 30 cents (+1.19%), and closed at $25.50 per share.

  • Friday's range: $24.94 - $25.50
  • 52-week range: $22.76 - $36.56
  • Friday's volume: 6,673,744
  • 3-month average volume: 1,021,910

BGC formed a rounded bottom breakout pattern when it closed over the 50-day simple moving average. That's a good thing. Plus, shares closed right at a short-term resistance level on Friday.

The price action has been trading positive since earnings were reported on April 30, and the stock is up 12% from its 52-week low that occurred on the day after earnings. I would look for an entry above the 50-day simple moving average at $25.24, but only on positive trading.

Friday's volume was about six times average volume, which is a huge bullish buy signal.

I would set a stop on a close at or below $24.84. There is overhead resistance at $26.09. $27.01, $28.02, and again at the 200-day simple moving average, at $28.91. I would target the 200, which is over 13% to the upside.

Look for the next resistance level above the 200 for the next target. Stay long unil you see a sell signal or a confirmed close below the t-line.

Up next: Theravance.

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
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!
BGC $17.05 -1.04%
THRX $15.82 0.64%
VTUS $13.24 0.00%
AAPL $124.25 -0.14%
FB $81.66 -0.67%


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs