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

Big Swing Trade Ideas for Tuesday, June 17: Tesla, Ford, More

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

Today's top picks are American Eagle Outfitters (AEO - Get Report)Ford Motor (F - Get Report) and the market darling Tesla Motors (TSLA - Get Report).

1. First, let's look at American Eagle Outfitters, which operates as a specialty retailer of clothing, accessories and personal care products in the U.S. and internationally.

American Eagle traded up 2.92% on Monday, closing at $11.64 per share.

  • Monday's range: $11.27 - $11.66
  • 52-week range: $10.12 - $20.12
  • Monday's volume: 4,332,361
  • 3-month average volume: 5,025,610

American Eagle is a rounded bottom breakout, and has closed over the 50-day simple moving average for two days in a row. American Eagle has tried to complete a rounded bottom breakout in the recent past, but has failed and continued the downtrend.

There needs to be continued bullish strength for you to want to enter this trade today. There is some overhead resistance at $11.80, $12.11, $12.80 and then again at the 200-day simple moving average. I would suggest an entry within yesterday's candlestick range, between $11.27 and $11.66. I'd set a stop at about $11.09.

I would target the 200-day simple moving average for 16% to the upside. Stay long until you see a sell signal, or a close below the t-line.

2. Now, let's look at the American car manufacturer Ford Motor.

Ford trade up 0.42% on Monday, closing at $16.63 per share.

  • Monday's range: $16.38 - $16.68
  • 52-week range: $14.30 - $18.02
  • Monday's volume: 22,219,572
  • 3-month average volume: 27,499,600

Ford looks good technically, as yesterday the chart formed a bullish engulfing signal, which is one of the most reliable candlestick signals. Plus, it formed a bullish left/right combo signal, a three candle formation that develops over three days. That occurs when there is a bearish candle one day, followed by a bullish harami the next day, followed by a bullish engulfing candle on the third day. Also, price action bounced off of the 20-day simple moving average, where it found support.

Look for Ford to trade up over the t-line. I'd look to enter at or above the t-line, which is at $16.68.

I'd set a stop just below yesterday's low of $16.38. I'd start with a one-quarter position and add to it when it clears the near-term resistance level of $17.08. Then, look for it to clear the 52-week high of $18.02.

I would target the 52-week high to start, then target the 5-year high at $18.97, which is about 12% to the upside. Stay long until you see a sell signal or a close below the t-line.

Coming up next: Tesla.

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
AEO $14.31 -1.99%
F $13.56 -3.76%
TSLA $240.76 -2.81%
AAPL $93.74 -1.15%
FB $117.58 0.73%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs