Boston, MA 04/09/2014 (wallstreetpr) – Nordic American Tanker Ltd (NYSE:NAT) currently is a sell as it has broken through all the major supports and is currently also trading below its 50 day moving average at $10.11 and its 200 day moving average at $8.86.Short term traders can short this stock for targets of $8 and $7.75 in the short term with a stop loss at $8.86. If the stock manages to close above $8.86 then one can go long for targets of $9.20 -$10 with a stop loss of $8.25. Positional Traders can short the stock at current levels with stop loss at $8.76 with targets of $7 on a weekly closing basis.
EASTMAN KODAK CO (NYSE:KODK) has witnessed a massive sell off on the daily chart breaking through all the support zones and we can see this continue till the $29.29 levels which are the stocks’ 50 day moving average.
If the stock falls below the 50 day moving average traders can initiate short positions for targets of $25 in short term. Positional traders can also initiate short positions on the stock with targets of $24-$22 on a weekly closing basis. The momentum indicators are indicating a sell in the counter.
Ignyta Inc. (NASDAQ:RXDX) is currently in a very narrow trading range and is very flat moving between $6.4 on the downside and $7.2 on the upside. Since the stock is at the lower end of the trading range, short term traders can initiate a long position from this level for targets of $7.2 in the short term keeping a strict stop loss at $6.20 on the downside. Positional traders can short the stock for lower levels of $5.50 with a stop loss of $7.5 on a weekly closing basis.
