By Joey Vazquez
We continue our search for the most attractive companies to buy and sell right now. The markets have been mainly neutral for today, absorbing the weak retail sales figures and watching J.P Morgan Chase (JPM) CEO Jamie Dimon take the stand before Capitol Hill. Today, I strive to find attractive companies with strong or weak fundamentals and technicals that will outperform or underperform the markets. Should you buy or sell these companies?
(Click charts to enlarge)
Biogen Idec Inc. (BIIB):
Biogen continues to outperform this year up over 20% for the year and the stock looks poised to make a new 52-week high. Today, Oppenheimer reiterated its outperforming rating on BIIB and raised its target to $145. BIIB also received an upgrade to Buy from Hold over at UBS AG about a month ago and it raised its price target to $148. Analysts are getting behind this company as the pipeline strengthens, and they are seeing great growth from new products being offered to the public. BIIB was facing some weakness but its support at $127 was able to propel the stock back up. BIIB recently retook its 50- day MA and its pivot point creating new support lines. BIIB will now look to break its resistance at 136.34 and its MACD is suggesting it will as it just crossed over its signal line. Its CCI indicator just entered the favored +100 area confirming our bullishness for stock and giving us hope it will break its second resistance line.
Trade Idea: Go Long BIIB
Entry Range: 134.05- 134.70
Targets: 135.69, 137.04
Stop Loss: 131.65
Our Entry: 134.35
Hershey Co. (HSY):
Hershey`s caught a bullish upgrade from analysts at Goldman Sachs today. GS upgraded HSY to its prestigious Conviction Buy list and raised the HSY price target to $76. We feel
