NEW BULLISH Plays
Beazer Homes USA - BZH - close: 3.64 change: +0.04
Stop Loss: 3.10
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below
Why We Like It:
The homebuilders have been strong performers this year. BZH just recently broke out from a three-week consolidation. More aggressive traders may want to open bullish positions now. I am suggesting we wait and buy a dip at $3.45 instead. If triggered we'll use a stop at $3.10. Our multi-week target is $4.40. FYI: The Point & Figure chart for BZH is bullish with a long-term $8.50 target.
I do consider this an aggressive trade because BZH can be a volatile stock. We want to keep our position size small.
buy-the-dip Trigger @ 3.45, stop loss $3.10 (small positions)
Suggested Position: buy BZH stock @ 3.45
Entry on February xx at $ xx.xx
Earnings Date 05/03/12 (unconfirmed)
Average Daily Volume = 3.7 million
Listed on February 06, 2011