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The Play Of The Day
11-08-99 07:45 EST.
Good Morning Stock Fans!
Today's Play of The Day is: Crown Castle Intl. (NASDAQ:TWRS)
Stock Fans, we have an undiscovered jewel! Crown Castle (NASDAQ:TWRS) is breaking out from its current trading ranges. It's closing daily price has crossed its 10 day moving average and MACD has crossed the center line moving upwards. (That means it is a good time to buy!). This is a wireless play and the volume bars and recent news, say this stock is going higher. Earnings are to be reported 11/9/99. We think that this stock running into earnings with 6 times normal volume on Friday is a sign of good things to come!
Recent News Links for (NASDAQ:TWRS)
11/5 Crown Castle (NASDAQ:TWRS) Signs Nextel to Master Agreement for Co-Location on 1,264 U.S. Wireless Sites
10/ 19 Crown Castle Signs (NASDAQ:TWRS) Metricom to Master Agreement for 500 Wireless Data Sites in US
9/15 GE Capital Makes Strategic Investment in Crown Castle
KEY INDICATORS:
Buy Area: $19.6250- $20.31250
Stop Loss:$17.75
TARGET: $22.93750 - $24.93750
Time Frame: 1 to 2 days ahead of earnings
As a Daytrade: Look for $2.1250
BONUS PLAY: NET B@NK INC. (NASDAQ:NTBK)
It might just finally be happening! Net B@NK (NASDAQ:NTBK) a former high flyer has gained 90 points in a day before! Of course that was before this true NET Stock split 3 for 1. Since then in has had all sorts of problems.
However the volume has been up of late, and (NASDAQ:NTBK) broke out of a rather narrow trading range on Friday. The volume went from a below average 30 day trading volume of 325,000 on Thursday to well over 3 million share on Friday and a $2.00 plus move to the upside. To put that in better perspective. Volume was 6 times that of average this past Friday.
I am looking for the VOLUME to stay high on this one. I also like (NASDAQ:NTBK) to power higher after a small pull back on a drop off of volume (bullish) before it then powers its way higher into the mid $30.00's. With a volume outbreak like it had on no news on Friday, it may just have something major in the works. When this stock has found the $30.00's in the past it can really gain in a hurry. I am hoping we can all BANK on higher prices upcoming real soon!
KEY INDICATORS:
Buy Area: $25.1250- $25.6250
Sell Stop $24.75
TARGET: $29.93750-$34.50
Time Frame: 1 to 3 days
Type of Trade: Swing Trade (a short one)
As a Daytrade: Look for $3.00 today
"RUN THE OPTIONS!"
If something is up, then Option Calls on (NASDAQ:NTBK) will continue to get notice today! The one that set up best for the move to the upside are:
November $30.00 Option Calls.
STOCK TO WATCH: NETEGRITY (NASDAQ:NETE)
Keep an eye on (NASDAQ:NETE) stock today. It has broke out of a narrow trading range into new highs of late. (NASDAQ:NETE) recent news is that it just appointed a new Vice President. It has been talked about on CNBC in the past as a great company to own into 2,000 as it is unique in what it offers. Look for this one to pull back slightly on LESS VOLUME off the open and then continue its run higher.
VISUAL DATA (NASDAQ:VDAT)
This stock finally broke out on some major volume near the close on news Friday. It traded way over its normal 30 day trading volume of less then 150,000 shares as it went over 550,000 shares trading on Friday (Most of that came in the last 45 mins of trading Friday)
This stock has been as high as $30.00 plus in the past. With it breaking into the mid $9.00's Friday this Audio Visual sector play could just be beginning a nice run. Today the KEY will be VOLUME!
STOCK FANS!
I received a tremendous amount of email on (NASDAQ:CNCX) this weekend. To answer many of your questions, (NASDAQ:CNCX) has broken to a new trading range. It may be taken over. It also will have its CEO on CNBC's Power Lunch today. Look for this stock one of my favorites as well as now I hope all of your to power higher. The 30.00's in this ones past chart go by in a hurry. (NASDAQ:CNCX) may indeed be a $40.00 stock sooner then later!
STOCKS ON MY SCREEN TODAY:
CNCX
JWEB
LCOS
DCLK
NTBK
NXCD
EGGS
BFLY
VDAT
LEAP
ANCR
AETH
COOL
DELL
MSGI
JFAX
COVD
STMP
VRIO
OMKT
ONSL
EELN
MSFT
BEOS
PRGY
FLAS
Have a great day!
More to come...
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