NEW BULLISH Plays
Financial Engines - FNGN - close: 43.93 change: +0.94
Stop Loss: 42.25
Current Gain/Loss: unopened
Entry on May -- at $--.--
Listed on May 29, 2013
Time Frame: 4 to 8 weeks
Average Daily Volume = 396 thousand
New Positions: Yes, see below
Why We Like It:
FNGN is in the asset management industry.
The company is part of the financial sector and right now financials are seeing a lot of bullish momentum. Shares of FNGN are trading at all-time highs. After consolidating sideways the last two weeks FNGN looks poised to breakout past short-term resistance near $44.00. If that happens then FNGN could see a short squeeze. The most recent data listed short interest at 19% of the 47.7 million-share float.
The May 20th high was $44.33. Tonight I am suggesting small bullish positions at $44.50. If triggered our target is $49.50. We do want to keep our position size small because FNGN is arguably overbought here.
Trigger @ 44.50 *small positions*
Suggested Position: buy FNGN stock @ (trigger)