NEW BULLISH Plays
Ancestry.com - ACOM - close: 31.58 change: +1.37
Stop Loss: 29.90
Current Gain/Loss: unopened
Time Frame: exit prior to the Feb. 15th earnings report
New Positions: Yes, see below
Why We Like It:
ACOM could see a short squeeze. The trend is higher and the stock is flirting with a breakout past resistance near $32 and its 200-dma.
The most recent data listed short interest at 22.9% of the small 30 million-share float. That's definitely enough fuel for a short squeeze.
I am suggesting we open bullish positions if shares trade at $32.05 or higher. Our target is $36.00.
FYI: The Point & Figure chart for ACOM is bullish with a $52.00 target.
Open Bullish Positions: Trigger @ $32.05
Suggested Position: buy ACOM stock @ 32.05
- or -
buy the Feb $32.50 call (ACOM1218B32.5)
Entry on February xx at $ xx.xx
Earnings Date 02/15/12 (confirmed)
Average Daily Volume = 905 thousand
Listed on February 02, 2011