The Play Of The Day
06-21-99, 7:15 EST.
Good Morning Stock Fans!
Today's Play of The Day is: IDT Corp (NASDAQ:IDTC)
Stock Fans! This stock was up Friday on NEWS and it added about 55% volume over its normal 30 day average volume of 1,003,000 and traded some 1,565,800 shares on Friday. I like this stock to break up in through current levels of resistance at $24.50. I calculate that with similar volume today as it had on Friday. (NASDAQ:IDTC) should establish a trading rage of $24.93750 hi to $20.25 low its new are of support. If we it trades off of that volume today then look for the stock to pull back to about $18.6250. I doubt we see that but that is where strong support exists.
Stock Fans! If (NASDAQ:IDTC) is to trade similar volume today it must trade. 142,355.00 shares every 15 minutes today. Again I like this stock to trade the same volume today and break up and out of its rage and head for $26.1250 plus per share perhaps in as little as 2 days.
Strategy: I will look to buy this stock in a pull back area of $20.25 per share today. We should see it about 32 minutes into today's market action
Sell Stop: In place at $19.8750 if it breaks that then i wait for 18.3750 its next level of support
Target: I am putting a 3 day target on this one of $26.18750 per share. I like it to see a high today of just over $24.50.
Marketing Services Group (NASDAQ:MSGI) This stock has been in an uptrend since it bottomed out last week $15.3750. It is in a uptrend and being accumulated in its current price range it closed Friday at a very strong area of support $24.00 dollars per share. Look for a pull back today on similar volume or more volume then Friday of 598,200 of just under $23.00 dollars per share. Watch the volume this one will turn fast to the upside. if that happens it get caught in an up trend and fly right through $26.00
(NASDAQ:MSGI) Has filed for a NASDAQ listing and should get it. Right now it is a member of the NASDAQ-Small Cap. This stock has a low float so it can explode and on the flip side it can also drop fast. The Market Makers of this stock can be sneaky as they will pull it down just a little extra to force me the little get out. So I will put my sell stop at 10% less then normal. This stock has the volume for an easy escape if it trends down. With news pending and CMGI in the same sentence. NASDAQ:MSGI) look to head up through 29.00 to 30.00 real soon.
Buy Area: Should be right about 22.68750 on simular volume to Friday the number you want to watch is 59,600 shares in the first 13 minutes. Today or so with that look for a rage of $25.75 hi today and the low are to buy should be 22.68750 as I mentioned earlier.
Buy Area: $22.68750-$22.4375
Sell Stop:$21.93750 even
Target: $31.00 plus this week VOLUME IS KEY!
OK READY BREAK!
Stocks to Watch:
General Magic (NASDAQ:GMGC) Stock Fans! @HOME EXCITE NASDAQ:ATHM) has taken a stake in (NASDAQ:GMGC) This stock was the top percentage leader through July 98 on the entire NASDAQ. It can move up fast and id way off it 52 week high of 15.3750. Watch this one close today. I may get in right off the open as it trades small amounts right now in pre market. Up only .3750 so far. However the CNBC factor will take care of that as they are on Squawk Box here in a few minutes. Again watch this one.
IPO GO BAD BUT ARE UPGRADED TODAY
Watch both BNBN and DIR both upgraded by to major firms! Watch the volume on these to as they can both move fast they both will open much higher today