NEW BULLISH Plays
Barnes Group - B - close: 30.66 change :+0.55
Stop Loss: 29.90
Current Gain/Loss: unopened
Entry on May -- at $--.--
Listed on May 28, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 310 thousand
New Positions: Yes, see below
Why We Like It:
Shares of B have been surging since they reported earnings back in late April. The rally did pause at the $31 level just as the market peaked last week. Yet traders have been buying the dips and now B looks poised to breakout past the $31.00 mark and hit new multi-year highs.
The company operates in the industrial goods sector, which has been a strong industry group for stocks. Today shares of B outperformed most of its peers with a +1.8% gain. I am suggesting with launch small bullish positions if B can hit our entry trigger at $31.10. If triggered our target is $34.75.
Trigger @ 31.10 *Small Positions*
Suggested Position: buy B stock @ (trigger)