Option Investor
New Plays
Printer friendly version
New Plays
Long Plays
Short Plays
None None

New Long Plays

None today.

New Short Plays

INVACARE - IVC - close: 22.53 change: -1.26 stop: 23.11

Company Description:
Invacare Corporation, headquartered in Elyria, Ohio, is the global leader in the manufacture and distribution of innovative home and long-term care medical products that promote recovery and active lifestyles. The company has 6,100 associates and markets its products in 80 countries around the world. (source: company press release or website)

Why We Like It:
IVC reported earnings this morning that were two cents better than expected. Unfortunately for shareholders the company guided lower going forward. Shares spiked lower at the open and the initial bounce stalled near the $23.00 level. The stock is already in a long-term bearish trend and now shares look poised to breakdown under support near $22.00, which is also the bottom of its ten-week trading range. We're suggesting a trigger to short the stock at $21.94, which is under support at $22.00 and under its September 22nd low. If triggered our short-term target is the $20.05-20.00 range. More aggressive traders may want to aim closer to the bottom of its bearish trendline of support (see chart).

Picked on October xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/26/06 (confirmed)
Average Daily Volume: 209 thousand

Premier Investor New Play Archives