My Power Options system identifies the best candidates for option trading or short-term stock trading, and this week it’s showing great strength in some pharmaceutical stocks, as well as some names to avoid. These names are both volatile and liquid, two important characteristics of profitable options trading.
Use the following information to help you with your own options or short-term stock trading program.
These stocks are in strong upward trends, with excellent upside potential. Buy on any further strength.
- Biogen Idec (NASDAQ:BIIB)
- Bristol Meyers-Squibb (NYSE:BMY)
- Boston Scientific Corporation (NYSE:BSX)
- Novo Nordisk (NYSE:NVO)
This stock is in an upward trend, but is temporarily leveling or pulling back.
- Coventry Health (NYSE:CVH)
Backing and Filling
These stocks have rallied way up from downtrends, but then dropped from those higher prices to “fill” lower price areas.
These stocks are in upward trends that are temporarily leveling or pulling back. Most of the stocks in this category have the potential for a strong downtrend.
- Astrazeneca (NYSE:AZN)
These stocks are in downward trends. They’ve tried to rally up, but without much success.
This stock is completely broken down. Not much downside left here.
- Immunomedics (NASDAQ:IMMU)
InvestorPlace advisor Ken Trester is editor of the popular Maximum Options program. Trester has been trading options since the first exchanges opened in 1973 with a winning streak that goes back to 1984 with money-doubling average annual profits since 1990. Try Maximum Options today for 2 months for only $99.