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PLAY > New Plays Tuesday, May 01, 2001
New Split Plays   New Candidate Plays   New Momentum Plays
(We update our stop losses daily at the CURRENT PLAYS page.)

New Split Plays

None

New Candidate Plays

None

New Momentum Plays

WSM - Williams Sonoma Inc. $31.10 +1.03 ($1.80)

Specialty home retailer Williams Sonoma continued to build on yesterday's breakaway gap from $29.00. What's more, today's move comes on volume nearly double the three-month average daily volume of 551,000. WSM has been the beneficiary of a resurging retail sector. Over the past week, the S&P Retail Index (RLX) has surged ahead 7.2 percent. At this point, WSM has made room to run higher. The stock has taken out resistance at $30 along with its upper Bollinger band at $30.56. With these resistance levels out of the way, it appears to be smooth sailing until $40. As for support, traders can look for $30 to provide the first level, followed by the 10-dma at $28.08. Traders considering a position in WSM should look for strong volume, 250,000 shares or more traded by noon EDT, on a move through today's intra-day high of $31.40 or a bounce off support at $30.00 before placing their trades. We are placing our stop-loss just at $27.75, which is just below the 200-dma.


Picked on May 1st @ $31.10
Change since picked 0.00
Stop Loss @ $27.75
 
Interactive Chart Quote News First Call on WSM
 

New Plays Index

 


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