New Plays, Tuesday, 11/18/2008
HAVING TROUBLE PRINTING?
NEW BULLISH Plays
Molson Coors Brewing - TAP - close: 43.03 change: +1.32 stop: 40.65
Why We Like It:
BUD probably made more headlines today as INBEV completed its acquisition of the beer giant. Yet shares of TAP were showing relative strength and outperforming the market. TAP rose more than 3% and closed above technical resistance at its 50-dma. The stock has been outperforming the market the last few weeks and looks ready to breakout from its current trading range.
We're suggesting readers buy TAP if the stock hits our trigger at $43.55. If triggered our target is the $49.50 mark. However, we have to point out that the 100-dma and the exponential 200-dma could be overhead resistance. Currently the Point & Figure chart is bullish with a $56.00 target.
Picked on November xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/12/09 (unconfirmed)
Average Daily Volume: 1.8 million