I am not usually enthusiastic about trading American deposit receipts, but Companhia De Bebidas (ABV) had a breakaway Fast Ball move during the Wednesday session that makes the stock hard to ignore going into Thursday’s session. We will look for solid overhead resistance to assist in setting stops on a downside extension and look to short the adr below the Wednesday low.
Affiliated Computer Svcs Inc (ACS) left a Switch Hitter pullback and will also be on our list of short sale candidates on Thursday.
Comp De Bebidas Adr
Affiliated Computer Svcs Inc
In the chemicals, Praxair Inc (PX made a Fast Ball move lower and seems to have room to extend if the market continues to decline on Thursday. We will look for entry opportunities around 71.05.
Praxair Inc
Finally, USX-U.S. Steel Group (X) made a Fast Ball move lower and should have little support to approximately 79.07 if the carnage continues.
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