Additional Trading Ideas:
In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates. Some of these may need to see a break past key support or resistance:
LVLT, SLF, SIMO
EPL, URBN, FB, CLVS, ISIS
NEW BULLISH Plays
Bio-Reference Labs Inc. - BRLI - close: 35.93 change: +0.94
Stop Loss: 34.45
Current Gain/Loss: unopened
Entry on November -- at $--.--
Listed on November 18, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 225 thousand
New Positions: Yes, see below
Why We Like It:
BRLI is in the healthcare sector. The company provides laboratory testing services. We are adding it as a relative strength trade. Shares were definitely showing strength today. Instead of following the rest of the market lower on Monday afternoon BRLI was pushing higher and testing resistance at the $36.00 level.
Shorts in this name are probably panicking. The lack of participation in the market's decline today should have bears worried. A breakout past $36.00 could spark some serious short covering. The most recent data listed short interest at 44% of the very small 24.4 million share float.
Today's high was $36.04 but last Thursday's high was $36.13. I am suggesting a trigger to open bullish positions at $36.25. If triggered our target is $39.75. More aggressive traders may want to aim higher.
The Point & Figure chart for BRLI is bullish with a $49.00 target.
Trigger @ 36.25
Suggested Position: buy BRLI stock @ (trigger)
- (or for more adventurous traders, try this option) -
buy the Dec $35 call (BRLI1322L35) current ask $2.10