NEW BULLISH Plays

Granite Construction - GVA - close: 34.86 change: +0.30

Stop Loss: 33.90
Target(s): 39.00
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

Company Description

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)

Annotated chart: