NEW BULLISH Plays
PerkinElmer Inc. - PKI - close: 37.51 change: -0.44
Stop Loss: 36.49
Current Gain/Loss: unopened
Entry on September -- at $--.--
Listed on September 12, 2013
Time Frame: 6 to 9 weeks
Average Daily Volume = 784 thousand
New Positions: Yes, see below
Why We Like It:
PKI is in the healthcare sector. The company provides diagnostics, research and laboratory services. The company's latest earnings report in early August was bullish. PKI beat Wall Street's both top and bottom line estimates. Management then offered positive guidance.
The bullish reaction to PKI's earnings pushed shares above resistance near $36.00. Since that time PKI has been consolidating sideways in the $36-38 zone. Shares were on the verge of a breakout until the market's widespread decline today. I am suggesting a trigger to open bullish positions at $38.15. If triggered our target is $42.50. Our time frame is several weeks.
FYI: The Point & Figure chart for PKI is bullish with a $46.50 target.
Trigger @ 38.15
Suggested Position: buy PKI stock @ (trigger)