NEW BULLISH Plays
Granite Construction - GVA - close: 34.86 change: +0.30
Stop Loss: 33.90
Current Gain/Loss: unopened
Entry on January xx at $ xx.xx
Listed on January 10, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 250 thousand
New Positions: Yes, see below
Why We Like It:
GVA is in the heavy construction business. The stock spent nearly a year churning sideways in the $20-30 range (more like the $17-30). GVA's recent breakout past $30.00 is very bullish on a long-term time frame. Now after a week of consolidation sideways GVA looks poised to breakout past resistance near $35.00.
I am suggesting a trigger to open small bullish positions at $35.10. If triggered our target is $39.00. We want to keep our position small because GVA doesn't see a lot of volume. That could leave it vulnerable to volatility.
Trigger @ 35.10 *Small Positions*
Suggested Position: buy GVA stock @ (trigger)