The Play Of The Day
10-5-99 8:15 EST
Good Morning Stock Fans!
Today's Play of The Day is: ACTV (NASDAQ:IATV)
Back on September 7, 1999, I featured ACTV (NASDAQ:IATV) as my "Play of The Day!" At that time it was trading in a range of $12.50- $13.3750. The reason I featured it that day was because it was starting to make a move to the upside as its long awaited "Individualized Television" was due to launch on October 12, 1999.
Since that time (NASDAQ:IATV) has traded higher, and yesterday it got as high as $16.1250 right on a major area of resistance. It should break up and through $16.25 today. I am looking for it to run up to $21.00-$22.00 a share its next area of resistance.
Even though I have featured this one before. I see shares of (NASDAQ:IATV) at a perfect point today to buy more shares as it closed yesterday just under $16.00 a share at $15.81250 to $15.93750.
Looking at (NASDAQ:IATV) trading graph. I see that it has excellent support with a double bottom to back it up at $12.6250 achieved on September 24, 1999, and then again September 30, 1999. I see shares of (NASDAQ:IATV) with it launch of "Individualized Television" due to launch on October 15, 1999, as a great stock today that should allow exactly what a trader looks for more REWARD then RISK.
It already has shares trading today as it looks to open just under $16.00 a share a great place to enter (NASDAQ:IATV) and add more shares for what certainly looks like an upcoming ride to the upside in the coming trading days into the $21.00 -$22.00 a share area perhaps higher.
To review the information that I provided on ACTV's (NASDAQ:IATV) "Individualized Television" back on September 7, 1999:
Buy Area: $15.6250-$15.93750
Sell Stop: $12.6250
TARGET: $21.00-$22.00 (if it get through $22.31250 its trading graph would indicate it could go as high as $25.00 a place where it was less then 6 months ago).
BONUS PLAY: LOOK SMART (NASDAQ:LOOK)
Stock Fans! I featured (NASDAQ:LOOK) the same day as I did (NASDAQ:IATV). In reviewing that BONUS PLAY form September 7, 1999. I saw that (NASDAQ:LOOK) worked very well that day as it more then found its target going up and over $41.00 a share.
Since that time (NASDAQ:LOOK) has sold down on much less volume (a very bullish sign.) to go as low as $23.00 even a share on October 1, 1999. It bounced beautifully off $23.00 a share on more volume (a very bullish sign) as it went up and over $25.00 a share as a high that day. It closed yesterday at $24.81250 on volume of only 287,000 shares, way off it 30 day average volume of 2,106,000.
I like this stock again today for more reason then just that it has demonstrated good support at $23.00 a share. I also like it because this stock recent news is very strong. On September 22, 1999, it announced in a press realize that it lead all major portals in annual traffic growth; 112% increase prior to launch of consumer advertising. Just last month it finished in the top 10 of all major portals as it ran to over $41.00 a share on that news. Nothing has changed on shares of (NASDAQ:LOOK) today except that it looks to move higher from here. It also again has less RISK then REWARD as it demonstrates good support at $23.00. I am looking for volume to increase on this stock as it again should find $30.00 a share in the coming trading days on its way back to 40.00 where it belongs.
Buy Area: $24.3750-$24.8750
Sell Stop: $22.8750
TARGET: $30.3750-$33.3750 (3-10 trading days)
Have a great day!
More to come....