The Play Of The Day
Good Morning Stock Fans!
Today's Play of The Day is: Data Broadcasting Systems (NASDAQ:DBCC)
Stock Fans! This one look real solid to buy right off the open today. I like it there because it looks to have good volume. I am hoping similar to yesterday's when it traded 1,154,000 shares. I like it off the open because of the fact that it closed right on what looks to me to be a nice support level of $10.50 per share. I don't see a whole lot of risk to the down side. In fact (NASADQ:DBCC) has sold down of late on pretty solid volume on of the price are of $14.00 dollars a share.
It also is interesting to me that it has now bounced off $10.50 per share 3 days in a row, if you count where it closed yesterday right on that number. With (NASDAQ:DBCC) trading some 3 points off its 50 and 200 day moving average as the 2 lines for those trading times come together in its chart about that area. I would hope that with other Internet stocks finding their ways back to those moving averages then (NASDAQ:DBCC) should follow these others back up.
Today (NASDAQ:DBCC) should hold that level create a nice rage, and look to go higher as it was able to get as high as $11.50 per share in the middle of the afternoon. In looking closer at (NASDAQ:DBCC) intra-day movement yesterday I see a "spike" in volume as it treaded up as well as the price of the stock. It did with no news. This type of action may depict some type of news may be coming.
So, Stock Fans! That is today's "Play of The Day"! I will know on this one right off the open as again I am looking to buy it right there. I should be able to ride this one back up to where this stock should be about $14.00 dollars a share.
Buy Area: $10.50
Sell Stop: $9.93750
Target: $14.00 ( 5-7 days)
Stock Fans! This just out Healtheon (NASDAQ:HLTH) is in a deal with (NASDAQ:YHOO) I point this out real quick because we all know that (NASDAQ:HLTH) can explode off very little volume as it has a very low "float" (amount of outstanding shares available for trade) I mention this because it should see some good action today. With good volume in mind we may just see this one go up the percentage gain leader list on the NASDAQ today. If that happens then this one should really fly as daytraders will not miss another opportunity to run this baby up.
I am saying use CAUTION with this one. It does not cost anything to keep this one on your radar screen. I know I will be in my LIVE TRADING ROOM.
OK READY BREAK!