New Plays, Thursday, 12/18/2008
HAVING TROUBLE PRINTING?
NEW BULLISH Plays
Henry Schein - HSIC - close: 35.21 change: +0.89 stop: 33.95
Why We Like It:
I am listing HSIC as an aggressive, higher-risk bullish candidate. The stock appears to have bottomed with its lows near $32.00. Recently shares broke through a three-week trend of lower highs. HSIC still has a longer-term trend of resistance near its 30-dma and that's only $1.50 above where HSIC is now. The P&F chart is still bearish and the four-month trend is still bearish. Yet I'm seeing enough short-term bullish movement that traders might want to speculate on a rebound from here. We'll use a stop loss under today's low. Our target is $39.00.
Picked on December 18 at $35.21
Change since picked: + 0.00
Earnings Date 02/25/09 (unconfirmed)
Average Daily Volume: 1.2 million