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 Friday June 13: First Majestic Silver, Clovis, More

NEW YORK (TheStreet) -- Good day traders!

Today's top picks are First Majestic Silver (AG - Get Report)Clovis Oncology (CLVS) and Halozyme Therapeutics (HALO).

1. First, let's look at First Majestic Silver, which acquires, develops and explores mineral properties with a focus on silver projects in Mexico.

First Majestic trade up 3.38% on Thursday to $9.47 per share.

  • Thursday's range: $9.11 - $9.57
  • 52-week range: $8.19 - $16.46
  • Thursday's volume: 1,479,778
  • 3-month average volume: 1,062,250

Miners and metals made big moves on Thursday, so there are a lot of great charts within this sector. First Majestic is a rounded bottom breakout that needs to confirm today. Price action has been trading up since the stock hit its 52-week low of $8.19 a couple weeks ago.

Over the last few days, the share price has gapped up, confirming bullish sentiment. Now, shares are trading over the 50-day simple moving average. First Majestic has formed a bullish scoop pattern at a resistance level.

Look to enter this trade within yesterday's trading range, above the 34-day exponential moving average. There is also a surge in volume on the bullish move, which tells us that investors are interested in the long-term bull movement. Watch for increasing volume on the scoop breakout. I'd set a stop at about $8.95, which is just below the nearest-term resistance.

I'd target the 200-day simple moving average, which is at $10.63 and is 10% to the upside. There is overhead resistance at $9.63, $10-ish and again at the 200.

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

Next up: Clovis Oncology and Halozyme Therapeutics.

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
AG $3.26 0.00%
CLVS $29.16 4.78%
AAPL $118.03 -0.71%
FB $105.41 -0.31%
GOOG $748.15 -0.02%


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs