NEW BULLISH Plays
Alliance Fiber Optic Products - AFOP - close: 34.34 change: +0.41
Stop Loss: 33.45
Current Gain/Loss: unopened
Entry on July -- at $--.--
Listed on July 29, 2013
Time Frame: 3 to 6 weeks
Average Daily Volume = 440 thousand
New Positions: Yes, see below
Why We Like It:
As the name implies AFOP makes fiber optic equipment. The company reported earnings last week (July 23rd) and beat estimates by two cents with 49 cents a share. Revenues soared +65% to $19 million. Management then raised their Q3 guidance. Naturally shares popped higher the next day and AFOP has continued to climb since.
Currently AFOP is testing significant resistance at the $35.00 level. Today's high was $35.37. I am suggesting a trigger to open small bullish positions at $35.55. If triggered our target is $39.75.
Trigger @ 35.55 *Small Positions*
Suggested Position: buy AFOP stock @ (trigger)