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!

Top Swing Trade Ideas for Thursday, June 5: DexCom, Conn's and More

Stocks in this article: DXCM IAG CONN

NEW YORK (TheStreet) -- Good day, traders!

Today's top pick are DexCom (DXCM), Iamgold (IAG) and Conn's (CONN).

1. First, let's look at the medical device company, DexCom. It focuses on the design, development and commercialization of continuous glucose monitoring systems.

DexCom traded up 7.1% on Wednesday, closing at $34.88 per share.

  • Wednesday's range: $33.29 - $34.91
  • 52-week range: $19.93 - $49.83
  • Wednesday's volume: 1,108,091
  • 3 month average volume: 997,972

DexCom looks good technically because it formed one of the best candlestick signals. On Tuesday, the chart formed a doji, which indicates indecision amongst investors, the on Wednesday, price action gapped up. This combination is called a "doji gap up," and is known as a very bullish signal. A doji gap down is a very bearish signal.

Consider this: With a doji, there is a battle between the bulls and bears, and neither wins, and the doiji is formed. Then the following day, the stock gaps up and forms a big bullish candle. This shows that the bulls won the battle and share price will continue to rise in the direction of the gap. 

DexCom had a huge correction between March and May, and traded down 40%. For the last month shares have traded back up almost 18%, and yesterday's price action tapped the 50-day simple moving average, and the stock closed 1 penny below this average. Look for continued bullish trading today above the 50-day SMA and beyond. There is overhead resistance at $36.06, $38.73 and again at $41.96. I would target the 52-week high, but would be fine with a trade to the $41.96 level for 20% to the upside. I'd set my stop at $32.16 and stay long until there's a confirmed sell signal or a close below the t-line.

2. Next, let's look at Iamgold, which explores, develops and operates gold mines. The company also explores for silver, niobium and copper deposits.

IAG traded positively on Wednesday, closing up 1.5% at $3.46 per share.

  • Wednesday's range: $3.35 - $3.62
  • 52-week range: $3.00 - $7.08
  • Wednesday's volume: 20,312,420
  • 3 month average volume: 5,556,850

IAG is a rounded-bottom breakout chart pattern. I like this chart as it gapped up after a huge bullish day on Tuesday and Wednesday pulled back as investors took profits. This is an opportunity to get a better entry price, now that it's pulled back a bit, and still closed over the 50-day simple moving average. Look for an entry above the 50-day SMA and target the 200-day simple moving average for 20% to the upside. Set you stop at the t-line, which is at $3.25.

There is overhead resistance between the current price and the 200-day SMA, but nothing that compelling, so I would just stay long, let the trade work and let the trend work itself out. There is 20% upside potential, but don't be afraid to take your profits and run with 8%, 9%, 10%. That would still be a great trade. Stay long until you see a confirmed sell signal or a close below the t-line.

1 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 17,918.16 +113.36 0.64%
S&P 500 2,073.65 +3.00 0.14%
NASDAQ 4,773.1120 +7.7320 0.16%

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