Zacks.com Announces That Dr. Melvin Pasternak Highlights the Following Stocks: Atwood Oceanics, King Pharmaceuticals, and Genesis Microchip
CHICAGO--(BUSINESS WIRE)--Sept. 2, 2005--
Dr. Melvin Pasternak, editor of the StreetAuthority Swing Trader newsletter, says the mounting price of crude oil caused the S&P to drift lower. Learn about Atwood Oceanics (NYSE:ATW), King Pharmaceuticals (NYSE:KG), and Genesis Microchip (NASDAQ:GNSS). Click here for the full story exclusively on Zacks.com: at.zacks.com
Highlights from the August 29 Featured Expert column by Dr. Melvin Pasternak include:
STOCKS TO WATCH IN THE COMING WEEK
Long candidates:
Atwood Oceanics (NYSE:ATW) -- Dr. Pasternak highlighted shares of this offshore oil driller several weeks ago when the stock was trading at $55.13. Since that time ATW has hit a peak above $74. At this point Dr. Pasternak is now interested in catching ATW on a pullback, if possible.
King Pharmaceuticals (NYSE:KG) -- King is a prescription drug manufacturer. Dr. Pasternak flagged KG as a possible long candidate three weeks ago when the stock was trading at $11.04. Since that time the shares have advanced strongly after KG reported earnings and revenues above expectations and issued a robust forecast for the next two quarters. King is another issue Dr. Pasternak would like to buy on a pullback.
Genesis Microchip (NASDAQ:GNSS) -- Despite the overall market decline and pullback in tech stocks, shares of this integrated circuit maker continue to hover near $25. The stock has gap support near $23 with resistance just below $27. Given the current market weakness, the shares may be buyable close to $23.
Read Dr. Melvin Pasternak's commentary about crude oil versus the S&P and take a look at some more stocks by clicking: at.zacks.com
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