Money Forecast: Stocks to Watch
by: thunderstrm2002
Long-Term Sentiment: Strong Buy 06/06/05 09:29 pm
Msg: 10232 of 10242
from in the Money Forecast: Stocks to Watch Tuesday
eCost.com (ECST) advanced 2% (at 5.46) Monday night after the media company E. W. Scripps (SSP) announced plans to buy competing comparison shopping search engine, Shopzilla, for $525 million in cash.
ECST initially pops and holds the 5.35 to 5.40 range in early night trade, holding firm to a strong 38% rise between the bells. The E.W. Scripps' announcement set off a steady wave of upside momentum in the issue that brought it through the 5.46 area to an after-hours high of 5.60. It recorded its strongest second-half volume between 5.46 and 5.55.
After-hours indications would point to potential early strength Tuesday near 5.40.
Longs may want to look to play what is likely to be some early volatile upside movement on Tuesday as the market plays ECST as a potential takeout candidate. Potential entry points may lie near 5.35. ECST last recorded an aggressive after-hours move back on June 1 when it jumped 14.3% in night trade after eBay (EBAY) announced a deal to acquire Shopping.com (SHOP). Of interest in next day trade was ECST's inability to hold its upside as the stock ultimately closed out the June 2 regular session up a mere 1.5%. The dim near-term session-to-session performance may hold the door open for shorts to watch for any continued weakness off tonight's highs of 5.55 to 5.60.
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