FYI: Readers may want to check out shares of Blue Nile (NILE), which are breaking out from a two-week trading range. The stock looks like it could be headed back toward its early September highs.
NEW BULLISH Plays
Genomic Health - GHDX - close: 36.80 change: +1.04
Stop Loss: 35.40
Current Gain/Loss: unopened
Entry on October xx at $ xx.xx
Listed on October 4, 2012
Time Frame: 4 to 6 weeks
Average Daily Volume = 205 thousand
New Positions: Yes, see below
Why We Like It:
GHDX is a global health company focused on cancer research and laboratory services.
The stock has been volatile in recent months with big swings in both August and September. Currently shares look like they are coiling for a bullish breakout to new highs.
I am suggesting a trigger to launch bullish positions at $37.05. More conservative traders may want to wait for GHDX to hit a new high above $37.50 before launching positions. Our target is $39.90 but more aggressive traders could aim higher.
Due to GHDX recent volatility I would keep our position size small.
Trigger @ 37.05 *small positions*
Suggested Position: buy GHDX stock @ (trigger)