NEW BULLISH Plays

SunTrust Banks - STI - close: 31.21 change: +0.35

Stop Loss: 29.85
Target(s): 34.50
Current Gain/Loss: unopened

Entry on May -- at $--.--
Listed on May 15, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.4 million
New Positions: Yes, see below

Company Description

Why We Like It:
The financial sector have been a big part of the market's rally. Tonight we're looking at STI, which appears less overbought that many of its peers. The stock is breaking out past its 2012 highs. Shares have also broken out from a significant consolidation pattern seen on the weekly chart below.

Today's high was $31.30. I am suggesting a trigger to launch bullish positions at $31.40. If triggered our multi-week target is $34.50, which is above potential resistance at its 2011 highs near $33.00.

Trigger @ 31.40

Suggested Position: buy STI stock @ (trigger)

- (or for more adventurous traders, try this option) -

buy the Jul $32 call (STI1320G32) current ask $0.73

Annotated chart: