The Play Of The Day
Good Morning Stock Fans!
Today's 'Play of The Day" has to be, after yesterday's action-Web Trends (NASDAQ:WEBT)
Stock Fans! I want to look at this stock in great detail. Yesterday, June 21, 1999 (NASDAQ:WEBT) almost doubled its 30 day moving average. It traded up more then $5.00 on volume of 1,046.000 shares. It began the day "gapping up" .84 cents off Friday's close. It would do what a stock dying to go higher would do, it would retrace the "up gap" leaving .3750 uncovered. WEBT- close Friday- $33.25 open today $34.1250. Difference is .3750 ... Almost perfect retrace.
Stock Fans! (NASDAQ:WEBT) did 2 more huge things today. First, it broke through its 50 day moving average of $37.00 per share. Second, it closed "dead on" its 200 day moving average of $39.00. I will point out here that (NASDAQ:WEBT) makes money and it is a Internet Stock. It is scheduled for .02 a share when it reports earnings in mid-July, and it is 273.1% over the net index (-47.1%). (NASDAQ:WEBT) will run into earnings coming in early July.
I would like to compare the past as it may determine the future. I will do that here with (NASDAQ:WEBT). On March 19, WEBT had similar volume as it did yesterday (1,046,000.00). It also found support after opening up at $40.93750 at $37.00.
Stock Fans! Here is the way I see it (NASDAQ:WEBT) will "gap up" in the AM to perhaps as high as $41.1250 but I doubt it that it will go that high. I really don't care where it opens! What I do care about is that it pulls back and finds support at $37.00 even. This is the PRO buy area. I really think I have this one pegged.
I will include this link so you can see 50 and 200 day moving average via the ASK Research / Technical Charts: WEBT. See the green line at 37.00 that is 50.. .Day moving average-that is where it bounces and then will go higher. Target: $58.00 (could be tomorrow) the RED line is 200 day moving average. See how it just made $39.00.
Stock Fans! I will look to buy (NASDAQ:WEBT) today, June 22 right off the low, which should be $37.00 to $37.18750. Look at the chart I have given you. It will not BREAK UNDER $37.00. No options on this one so I play the stock!
PRO BUY AREA: $36.93750- $37.25 VOLUME IS KEY: $3,169.00 was yesterday's average volume per minute. Today, look for 63,394.00 shares to go by the tape. If we see 125,000 plus shares go by the tape in the first 20 minutes tomorrow. Then, (NASDAQ:WEBT) is on pace for 2.1 million shares today, and that would get it close if not over $57.00-$58.00
Sell Stop:$36.00 even
Target:$58.00 (if we get 2 million shares we may see it tomorrow)
What to Watch (NASDAQ:WEBT) Stock Jock! KEY INDICATORS!
OK READY BREAK