NEW BULLISH Plays
WuXi Pharma Tech - WX - close: 28.15 change: +0.50
Stop Loss: 26.95
Current Gain/Loss: unopened
Entry on October -- at $--.--
Listed on October 03, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 289 thousand
New Positions: Yes, see below
Why We Like It:
WX is in the healthcare sector. The company operates biotech, pharmaceutical and medical device research and development in the U.S. and China. They are headquartered in Shanghai, China.
The stock looks like a momentum trade with shares up five weeks in a row and up ten out of the last eleven weeks. Traders just bought the dip (twice) near $27.00 as the stock rebounds off the bottom of its bullish channel.
I am suggesting small bullish positions if WX can trade at $28.30. If triggered our target is $31.50. We will have to keep a careful eye on the $30.00 level, which might prove to be round-number resistance.
Trigger @ 28.30 *small positions*
Suggested Position: buy WX stock @ (trigger)